• Analytický komentár

• Banerjee Biswajit
  

Competitive pressure from cryptoassets has jolted policy makers to focus on improving cross-border payments systems and to consider issuing central bank digital currencies (CBDC). Cryptoassets such as global stablecoins have the potential to play a useful role in enhancing cross-border payments, provided the systemic risks posed by them are kept in check. Since cryptoassets typically transcend national borders, the goal should be to take a holistic approach to their regulation and supervision. For this, there has to be effective cross-border cooperation, coordination and information sharing amongst the relevant authorities. International agencies, global standard-setting bodies, and national authorities under the guidance of the G20 are in the process of developing a global roadmap for enhancing cross-border payments and addressing the existing and new systemic risks posed by cryptoassets. Cross-border and financial integrity issues are also relevant in the issuance of CBDCs and go beyond those applicable for private cryptocurrencies. Given the cross-border and geopolitical implications of CBDCs, collaboration between central banks and government agencies in establishing global standards for design and operation of CBDCs would be important.

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