AGL 5.95 Decreased By ▼ -0.13 (-2.14%)
ANL 9.26 Decreased By ▼ -0.14 (-1.49%)
AVN 80.82 Decreased By ▼ -0.64 (-0.79%)
BOP 5.20 Decreased By ▼ -0.07 (-1.33%)
CNERGY 4.86 Decreased By ▼ -0.04 (-0.82%)
EFERT 81.82 Increased By ▲ 0.27 (0.33%)
EPCL 53.94 Decreased By ▼ -0.06 (-0.11%)
FCCL 14.29 Decreased By ▼ -0.11 (-0.76%)
FFL 5.93 Decreased By ▼ -0.12 (-1.98%)
FLYNG 7.44 Decreased By ▼ -0.12 (-1.59%)
FNEL 4.95 Decreased By ▼ -0.05 (-1%)
GGGL 9.18 Decreased By ▼ -0.14 (-1.5%)
GGL 16.51 Decreased By ▼ -0.19 (-1.14%)
HUMNL 6.14 Increased By ▲ 0.45 (7.91%)
KEL 2.77 Decreased By ▼ -0.02 (-0.72%)
LOTCHEM 30.81 Increased By ▲ 0.26 (0.85%)
MLCF 27.45 Decreased By ▼ -0.34 (-1.22%)
OGDC 74.27 Increased By ▲ 0.27 (0.36%)
PAEL 15.98 Decreased By ▼ -0.21 (-1.3%)
PIBTL 5.21 Decreased By ▼ -0.02 (-0.38%)
PRL 17.01 Decreased By ▼ -0.28 (-1.62%)
SILK 1.10 Increased By ▲ 0.01 (0.92%)
TELE 10.00 Decreased By ▼ -0.04 (-0.4%)
TPL 7.65 Decreased By ▼ -0.05 (-0.65%)
TPLP 19.41 Decreased By ▼ -0.36 (-1.82%)
TREET 22.72 Decreased By ▼ -0.47 (-2.03%)
TRG 146.80 Decreased By ▼ -0.55 (-0.37%)
UNITY 17.09 Decreased By ▼ -0.10 (-0.58%)
WAVES 10.33 Decreased By ▼ -0.05 (-0.48%)
WTL 1.42 Decreased By ▼ -0.04 (-2.74%)
BR100 4,330 Increased By 3.4 (0.08%)
BR30 16,296 Increased By 46.9 (0.29%)
KSE100 42,904 Increased By 23.3 (0.05%)
KSE30 15,805 Decreased By -4.6 (-0.03%)
Follow us

LONDON: Global rules would allow central bank digital currencies to operate smoothly cross-border and speed up wholesale payments, a think tank backed by the City of London Corporation said on Friday.

Most central banks, including the Federal Reserve, the Bank of England and the European Central Bank, are studying the potential launch of a digital version of their currencies.

Britain has said any digital version of sterling would not be available under the second half of this decade, while the Fed has said a digital dollar could help maintain the greenback's international standing.

India's cryptocurrency industry reels as new tax hammers trading

"Key to realising the full potential of CBDCs is ensuring that they can operate across different markets to facilitate wholesale cross-border payments," said Kay Swinburne, chair of the International Regulatory Strategy Group, a think tank backed by the City and TheCityUK.

"Global regulatory principles and collaboration will be needed to realise this vision."

The IRSG said in a report published on Friday there are many benefits to including CBDCs in wholesale digital payments if they are made "interoperable" for cross-border transactions.

EU agrees rules to tame ‘Wild West’ crypto market

Harmonisation of rules would allow firms who are licensed in one jurisdiction to provide services in another, and stop countries trying to undercut each other with laxer rules, the report said.

Comments

Comments are closed.

UK think tank calls for global digital currency rules

'Blatant lies': ISPR rejects claims about COAS Bajwa and his family's assets

Imran’s unresolved difficulty leaves him absolutely frustrated

Govt plans to deregulate POL products’ market by 2027

Malaysia PM Anwar eyes targeted subsidies for low-income groups

England cricketers land in Pakistan for first Test series in 17 years

Qatar's migrant workers enjoy World Cup on the cheap

Energy conservation: stern measures on the cards

FBR widens probe into tax record leak of COAS, family

Tax reforms recommendations to FBR: Supertax has successful large businesses: PBC

Rice import: PM thanks Azeri President for 5-year tax holiday