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Central Bank Digital Currency (CBDC) initiatives are already in the works, like China’s digital Yuan and the European Central Bank’s recently announced plan to launch its own digital currency.

More from Forbes:

No Blockchain Needed, Digital Asset Integrates With Amazon Web Services, 02/25/2020 08:24

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In 2016, the IRS fought tooth and nail in federal court to demand records from Coinbase, a California -based virtual currency exchange.

Forecasting Digital Currencies A central bank-issued digital currency necessarily requires a strict KYC/identity infrastructure since the monetary system would originate from a national government.

The Bank of England's (BoE) chief cashier, Sarah John, said it is "crucial" central banks research digital currencies so they can strike a balance with private issuers.

More from CoinDesk:

Central Bankers From Canada, Netherlands, Ukraine Call Blockchain Unnecessary for Digital Fiat, 02/24/2020 02:00

Secretive Digital Fiat Project Emerges With New Partner as CBDC Chatter Grows, 02/24/2020 17:00

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China’s digital currency is to be issued in a manner similar to cash, being sent from the central banks to banks, which can issue the digital currency to customers.

Central banks are worried that Facebook’s plans to launch its Libra digital currency could reduce state control over money around the world.

UK Digital Currency Starting to Look More Likely Like a deck of cards, more and more superpowers are folding to the notion of issuing their own central bank digital currencies ( CBDC s.

More from Bitcoinist.com:

JPMorgan Says Blockchain Is Laying Foundations for Digital Money, 02/22/2020 08:30

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... the Bank of Japan (BOJ), Ministry of Finance (MOF), and Financial Services Agency (FSA) have held a number of meetings to determine whether the country should become next in line to adopt a government-sanctioned digital currency.

More from CoinTelegraph.Com:

Bank of Canada Prepares for Digital Currency “In Case One Is Needed”, 02/25/2020 15:49

DeCurret Partners with KDDI to Test Digital Currency, 02/18/2020 23:26

Sweden Is Testing Its New Central Bank Digital Currency, 02/20/2020 11:22

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Unlike attempts within relatively small countries, such as Sweden, to launch digital currencies, the size and scale of Europe together would ensure that the formation of a digital currency would be sustainable in the long term.

Riksbank is assessing e-krona, a new form of digital currency that hopes to take the country a step closer to the creation of the world’s first central bank digital currency (CBDC), according to reports on Thursday (Feb. 20.

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Bitcoin Daily: Gaming Currency Surges In Real Cash; Airline Allows Passengers To Pay In Crypto, 02/21/2020 02:04

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Mr. Chen’s promises to investors were as worthless as his non-existent mines and phony digital currency,” said United States Attorney Nick Hanna.

Sweden’s Riksbank said on Wednesday it had begun testing an e-krona, taking the country a step closer to the creation of the world’s first central bank digital currency (CBDC.

More from Glenbrook Partners - General Author:

Does the U.S. Need a National Digital Currency?, 02/25/2020 09:27

Secretive Digital Fiat Project Emerges With New Partner As CBDC Chatter Grows As central bank digital currencies (CBDCs) march into view, a privately-run version of digital fiat is adding a key tech partner. Utility Settlement Coin (USC), the blockchain-based payments system involving commercial and ..., 02/25/2020 09:23

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Digital currencies continue to dominate conversations and headlines as we begin 2020.

He also noted that central bank currencies need to evolve to remain in that position, and their tokenization can be one of the possible solutions.

More from U.Today:

Bitcoin (BTC) Could Become Next Global Reserve Currency: Anthony Pompliano, 02/25/2020 14:11

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Bank of Canada lays groundwork for digital currency.

There are also important design options for the central bank to consider, including how to prevent money laundering and terrorist financing and ensure a digital currency doesn’t promote a bank run.

More from FP Trading Desk (Canada):

Bank of Canada preparing for possible digital currency – deputy governor, 02/25/2020 12:34

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Bank of Canada to create its own digital currency as 'contingency,' deputy says.

More from Winnipeg Free Press (Canada):

Shopify joins Facebook-backed digital currency group Libra Association, 02/21/2020 11:42

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The Bank of Canada's Deputy Gov. Tim Lane is on the wires speaking on digital currency.

Shopify joins Facebook backed digital currency group Libra Association.

STOCKHOLM (Reuters) - Sweden’s Riksbank said on Wednesday it had begun testing an e-krona, taking the country a step closer to the creation of the world’s first central bank digital currency (CBDC.

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