BIS and a number of Central Banks have jointly developed recommendations on issuing national digital currencies

   A group of seven central banks and the Bank for International Settlements (BIS) jointly issued a report in which they noted "the fundamental principles needed to issue digital currencies (CBDCs) to help central banks achieve government policy objectives. This was reported by Cointelgraph.

The report, entitled "Digital Central Bank Currencies: Fundamental Principles and Key Features," lists three fundamental principles that issuers must adhere to when issuing digital central bank currencies.

"When issuing CBDC, central banks must not jeopardize monetary or financial stability. The CBDC will have to coexist with and complement fiat currencies and promote innovation and efficiency". - As stated in the report.

The document explains that the components of a reliable CBDC include convertibility, convenience, security, speed, scalability, legal reliability.

The Bank of England, the US Federal Reserve and the Bank of Japan are among the governing bodies involved in the development of the document. However, it is clear from the BIS statement that the parties involved did not include any views on the launch of such a currency in the report, nor did they indicate any firm plans to release the CBDC.