Investment ie Management Central Banks Have Begun Exploring Cryptocurrency Options Division al
1. Central Bank Current State 2. Illustrative Potential State: Central Bank Cryptocurrencies
fi if e e _— ant
a oo
, Ul . t mk 1 ii
= Sovereign central banks have begun exploring cryptocurrency options.
= Aretail central bank cryptocurrency would effectively give the public access to accounts at the central bank with the ability to transfer payments peer-to-peer.
= Cryptocurrency proposals are being considered by several central banks, including Singapore’s MAS, China’s PBOC, Russia’s Central Bank, Sweden’s Riksbank and Ecuador’s Banco Central.
= A successful central bank cryptocurrency could substantially reduce fraud and tax evasion.
23 HOUSE_OVERSIGHT_025686
Source: Investment Strategy Group, “Central Bank Cryptocurrencies,” Morten Bech, Rodney Garratt, Bank of International Settlements.