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Central Bank Digital Money Risks Being an ‘Expensive Failure’

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Central-bank-issued digital currencies run the risk of turning into a costly waste of time, according to the Center for European Reform.

Europe -- one of the most advanced economies considering the initiative -- should instead use regulation to make payments cheaper and more competitive, the London-based think-tank said Tuesday in a report. It warned that the cost benefits and privacy incentives of a so-called CBDC are unlikely to be sufficient to entice consumers to use it.