The German Federal Parliament answers questions about the central bank’s digital currency

According to Cointelegraph, on August 29th, the German Federal Parliament (Bundestag) issued official feedback on the request of the Free Democratic Party, which asked the cabinet to respond to six CBDC-related issues in July 2019. According to the document, on August 16, the Cabinet responded to all questions of the group and cited major reports and investigations in the field, including a January report from the Bank for International Settlements (BIS). When asked about CBDC's understanding or insights, the cabinet quoted BIS as saying that 70% of the world's central banks are working in CBDC, but only two central banks have specific plans to issue digital central bank currencies. The Cabinet stressed that Sweden is the only EU country currently considering the issuance of CBDC. However, the authorities indicated that they have not yet reached a final decision on the issuance of CBDC. In addition, the cabinet also wrote that Uruguay has some specific CBDC plans, but for future implementation, these unsettled plans have led to uncertainty.