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In a fully implemented CBDC system, governments could financially exclude individuals or entire groups of people with the press of a button, leaving them with nothing. Governments like the CCP could target dissidents, sexual minorities, ethnic minorities, or religious minorities.
As the bankers bank, the BIS serves the financial needs of member central banks. It provides gold and foreign exchange transactions for them and holds central bank reserves. The BIS is also a banker and fund manager for other international financial institutions.
In simple terms, a central bank digital currency (CBDC) would be a digital banknote.
A UK House of Lords economic affairs committee report concluded that a CBDC poses two main security risks: first, that individual accounts could be compromised through cybersecurity weaknesses; and, second, that a centralised CBDC ledger could be a target for attack from hostile state and non-state actors.
Difficulty in implementing anti-money laundering and counter-terrorism financing measures: CBDCs could be more difficult to monitor and regulate than physical cash, which could create challenges in preventing money laundering and terrorism financing.

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Bank for International Settlements (BIS) is an international organization fostering international monetary and financial cooperation and serving as a bank for central banks.
News Report. Lack of Readiness: The BIS report points out that many central banks are not sufficiently ready to deal with the risks associated with CBDCs. These risks include cybersecurity threats, operational challenges, and potential disruptions to the financial system.
However, a CBDC also entails noteworthy risks, including the possibility of bank disintermediation and associated contraction in bank credit, as well as potential adverse effects on financial stability.

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