Limited support for central bank digital currencies in global investment industry survey

LONDON : The most comprehensive survey of the global investment industry on central bank digital currencies to date has shown both limited support and a lack of understanding of how a digital dollar, euro, yen or pound would work.

"Even for a sophisticated and financially literate cohort like our members there is very little understanding of what CBDCs are," the CFA Institute's Olivier Fines told Reuters. Just 31 per cent of those in the United States supported the creation of a digital dollar, followed by 38 per cent in Canada, 45 per cent in the European Union and 46 per cent in the United Kingdom.

Central banks themselves, including the head of the Bank of England, Andrew Bailey, have raised questions about CBDCs, saying they may be"a solution looking for a problem".

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