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Banks' role could be eclipsed by central bank digital currencies, BIS report warns

By Fiona Maxwell ( October 9, 2020, 07:00 GMT | Insight) -- Banks' traditional role in the economy may be whittled away by public adoption of central bank digital currencies, if these are introduced, the Bank of International Settlements has said in a report looking into the core features and principles of e-money. Banks' traditional role in the economy could be undermined if central bank digital currencies enter into use, according to a report from the Bank for International Settlements setting out ideas on the core principles of central bank e-money....

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