Major Banks Urge Rethink of European Union’s CBDC Plans

In a response to a European Commission consultation that closes Thursday, the Institute of International Finance (IIF) said there seemed to be an assumption that a central bank digital currency (CBDC) is a good idea, even though the European Central Bank has yet to reach a decision. It’s an assumption that needs to be challenged, according to the IIF response seen exclusively by CoinDesk.