For subscribers
Experts raise concerns over central bank digital currencies
They say these have potential to disrupt financial systems and stifle innovation
Sign up now: Get ST's newsletters delivered to your inbox
ST ILLUSTRATION: MANNY FRANCISCO
Ovais Subhani Senior Correspondent, Ovais Subhani
The rise of private payment networks and cryptocurrencies is challenging central banks' control over the flow of money within the financial system, the broader economy and across borders.
A vast majority of central banks - including the Monetary Authority of Singapore (MAS) - are responding by exploring digital currencies of their own, noted a new survey by the Bank for International Settlements (BIS).
