Subhechcha Ganguly 
At a time when cryptocurrency or digital tokens have captured the attention of the world, many countries have issued their own Central Bank Digital Currency (CBDC). According to a recent report by the Atlantic Council, an independent organisation based in Washington, D.C., 87 countries have considered issuing a CDBC until March 2022. Nine countries, including The Bahamas, Nigeria, and seven Eastern Caribbean Union countries, have already launched their own. However, one regulation that could provide a smooth cross-border transaction is missing.In an interview with FE Digital Currency, Swarup Gupta, financial services lead and head, ESG, Economist Intelligence (The EIU), discusses how the implementation of comprehensive global crypto regulation can address the resilience of financial firms such as banks in developing countries.In an interview with FE Digital Currency, Swarup Gupta, financial services lead and head, ESG, Economist Intelligence (The EIU), discusses how the implementation of comprehensive global crypto regulation can address the resilience of financial firms such as banks in developing countries.With the notable exception of China’s eYuan, most digital currencies are designed from the start to be minimally intrusive. This would ensure that they have the least possible impact on the commercial banking system. Some of them, such as the digital ruble, could only be used for specific purposes, and even in developing countries, the primary motivation for the introduction of central bank digital currencies (CBDCs) is financial inclusion, so there is no intention of disrupting the existing commercial banking network.
By Subhechcha Ganguly
