The Bank of Russia believes that CBDCs can reduce transaction costs in the economy and provide an asset that is less risky.
The idea of a digital currency with no central authority is in contradiction with any of the government’s policies. It is predictable that a lot of countries would come up with some regulations and rules to control the cryptocurrencies’ flows and exchanges.
Government cryptocurrency policies are very different in each country, even varying by region. For example, “Asian Tigers” have no regulations on crypto exchanges and only slight regulations on ICOs (South Korea is the only “Tiger” where ICOs are banned), but in China both ICOs and exchanges are illegal. In Europe, most of the countries don’t have any regulations on both ICOs and exchanges, so we can say they are in so-called grey area, even though every European authority has warned their citizens about the risks of using crypto. Government crypto news indicates that even democratic government cryptocurrency laws will change in more regulated way.
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