国际清算银行-齐头并进——2024年国际清算银行关于央行数字货币和加密货币的调查结果（英）

BIS Papers No 159 Advancing in tandem – results of the 2024 BIS survey on central bank digital currencies and crypto by Anamaria Illes, Anneke Kosse and Peter Wierts Monetary and Economic Department August 2025 JEL classification: E42, E58, O33. Keywords: central bank digital currencies, CBDC, digital innovation, cryptoassets, stablecoins, cross-border payments, tokenisation, tokenised bonds, interoperability, financial stability, regulation. The views expressed are those of the authors and not necessarily the views of the BIS. This publication is available on the BIS website (www.bis.org). © Bank for International Settlements 2025. All rights reserved. Brief excerpts may be reproduced or translated provided the source is stated. ISSN 1682-7651 (online) ISBN 978-92-9259-879-2 (online) BIS Papers No 159 1 Advancing in tandem – results of the 2024 BIS survey on central bank digital currencies and crypto1 Central banks’ involvement in central bank digital currency (CBDC) work remained strong in 2024. Of the 93 central banks surveyed, 91% (85) were exploring either a retail CBDC, a wholesale CBDC or both. At an aggregate level, the exploration of wholesale CBDCs is at more advanced stages than exploration of retail CBDCs. The focus and stage of the work and envisioned use cases and design features of CBDCs vary across jurisdictions. Yet, preserving the role of central bank money amid the decline of cash and the rise of tokenisation of traditional assets is a key driver for many central banks. More than one in three jurisdictions had also accelerated work on CBDCs in light of developments in stablecoins and other cryptoassets. While the use of stablecoins for payments outside the cryptoassets ecosystem is still limited in most jurisdictions, it is more widespread for cross-border payments and remittances in certain emerging market and developing economies. The results show that work on CBDCs progressed in tandem with an increasing number of jurisdictions enacting or developing regulations for stablecoins and other cryptoassets. Work on CBDCs also advanced as private and public sector engagements in asset tokenisation increased in many jurisdictions. Introduction This paper presents the results of the 2024 BIS survey on central bank digital currencies (CBDCs) and crypto. A total of 93 central banks participated in the survey. They shared insights into the level of involvement in CBDC work and, conditional on involvement, motivations for potentially issuing a CBDC, envisioned use cases and design features. CBDC is an enhanced digital representation of central bank money and can include both retail and wholesale versions (BIS (2025)). A retail CBDC is a digital version of physical cash that households and firms can use for everyday transactions. A retail CBDC differs from existing forms of cashless payment instruments, such as credit transfers, direct debits, card payments and e-money, as it is a direct lia