Stop calling them ‘CBDCs’, ECB paper argues

The time period central financial institution digital foreign money is deceptive and must be deserted, analysis from the European Central Financial institution argues.

The working paper, printed on February 11, claims that terminology within the crypto group, although broadly used, “typically appears to be biased, complicated, or is used inconsistently”.

The authors – Ulrich Bindseil, Charles-Enguerrand Coste and George Pantelopoulos – argue that retail CBDCs must be referred to as retail central financial institution digital cash (rCBEM). The time period “digital”, they

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