Cryptocurrencies Indonesian Central Bank explores CBDC to ‘future proof' monetary policy
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It also warned that stablecoins and unbacked crypto assets could in increase the risk of money laundering and terrorism financing as well as “macrofinancial risk in the form of shadow currency and shadow banking that undermine the effectiveness of central bank policy.” He outlines three key areas that BI will consider as they explore a possible ‘digital rupiah:’ The design, which needs to take into account the public interest and central bank roles, including the choice between retail and wholesale CBDCs; its role in supporting financial inclusion, especially for Emerging Markets and Developing Economies through features like offline functionality and low transaction cost, among others; and the CBDC’s ability to meet interconnectivity, interoperability, and...
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