Central banks exploring retail cryptocurrency options

Investment ie Management Central Banks Have Begun Exploring Cryptocurrency Options Division al 1. Central Bank Current State 2. Illustrative Potential State: Central Bank Cryptocurrencies fi if e e _— ant a oo , Ul . t mk 1 ii = Sovereign central banks have begun exploring cryptocurrency options. = Aretail central bank cryptocurrency would effectively give the public access to accounts at the central bank with the ability to transfer payments peer-to-peer. = Cryptocurrency proposals are being considered by several central banks, including Singapore’s MAS, China’s PBOC, Russia’s Central Bank, Sweden’s Riksbank and Ecuador’s Banco Central. = A successful central bank cryptocurrency could substantially reduce fraud and tax evasion. 23 HOUSE_OVERSIGHT_025686 Source: Investment Strategy Group, “Central Bank Cryptocurrencies,” Morten Bech, Rodney Garratt, Bank of International Settlements.