Bitget Research expert Ryan Lee appreciated the development prospects of CBDC in the world

Bitget Research researcher Ryan Lee told how the development of digital currencies of central banks (CBDC) will affect decentralized cryptocurrencies and their role in the global financial system. He also appreciated whether the growing interest in this class of assets by central banks around the world, including the recent statements of China, an important factor affecting the crypto industry.

According to the expert, the development of CBDC introduces complex dynamics for cryptocurrencies, forming their role in the global financial system. When central banks accelerate the initiatives to create national digital currencies, this is especially true for the yuan, the landscape is rapidly changing.

“One of the immediate consequences will be an increase in regulatory supervision. Governments can strengthen control by representing CBDC as a safer alternative. This can lead to an increase in the requirements for compliance with the norms for cryptocurrency exchanges and issuers of stablecoins, which will potentially limit the use of some digital assets in regulated markets, ”said Ryan Lee.

However, according to him, CBDC will not become direct “substitutes” of cryptocurrencies. Unlike Bitcoin or Ethereum, they remain under the control of the central authorities, which makes them fundamentally different in terms of transparency and control. Such differences can strengthen the attractiveness of decentralized assets, especially for users who seek stability in the high -voltage cryptocurrency industry.

Lee believes that in the long run, the development of CBDC can speed up the massive acceptance of digital payments, indirectly using the blockchain-industrial, attracting more people to the ecosystem. “The problem for cryptocurrencies in this case will be differentiation. Competing in innovation, privacy and usefulness in a world where digital money issued by central banks becomes the norm, digital currencies will look for ways to stand out, ”the specialist summed up.

Author

Peter Ivanov