According to CoinDesk, Agustin Carstens, general manager of the Bank for International Settlements (BIS), has urged countries to establish legal frameworks that support the deployment of central bank digital currencies (CBDC). Carstens made the statement during a conference in Switzerland, highlighting that around 80% of central banks are either not allowed to issue a CBDC under existing laws or have legal frameworks that lack clarity on the matter, as per a 2020 paper by the International Monetary Fund.

Carstens emphasized the need to rectify this situation, as the public demands forms of money that meet their needs and expectations. He noted that central banks worldwide have been investing in exploring and addressing both the technical and operational requirements of a CBDC. A BIS survey showed that in 2022, 93% of central banks were engaged in some form of CBDC work. The BIS itself has conducted multiple CBDC experiments and called for countries to collaborate on their CBDC designs.

Carstens stressed that it is unacceptable for unclear or outdated legal frameworks to hinder CBDC deployment and urged for work to address these issues to begin in earnest and proceed at a rapid pace.