Latin America’s digital currency challenge
In the Latin American region, traditional financial system players are facing a structural dilemma. The fundamental questions that mainly banks and regulators keep asking themselves are these: what changes should be made to the current financial system to suit the recent emergence of new digitalization phenomena? Should the major participants in traditional financial systems include cryptocurrencies into existing organizational frameworks or should they maintain a binary system where in the conflict between CBDCs and cryptocurrencies will take center stage in this modern era?
The Asia Program promotes policy debate and intellectual discussions on U.S. interests in the Asia-Pacific as well as political, economic, security, and social issues relating to the world’s most populous and economically dynamic region. Read more