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Central Bank Digital Currency Implementations and Their Impact on the Forex Market
Central Bank Digital Currency (CBDCs) are just a digital version of a country’s money that the central banks issue and keep in check, giving them legal status similar to traditional money. Unlike cryptos like Bitcoin and Ethereum, which are totally unregulated by any government, CBDCs provide the stability and trust associated with government-backed currencies. That means they’re pretty stable and reliable. Some countries are already working on making these digital currencies to tackle some big financial issues. The goal is frictionless payments, giving more people access to banking and reducing cash management ... (full story)