Dear maria, The remarkable rise of cryptocurrencies captured the popular imagination and gave a glimpse of new technical capabilities, write the Bank for International Settlements’ Agustín Carstens, Jon Frost and Hyun Song Shin in F&D. Yet the recent rout in crypto valuations has underscored the failure to fulfill the requirements of a monetary system that fully serves society. These shortcomings are not just bugs but structural flaws. “The monetary system of the future should harness the new technical capabilities demonstrated by crypto but be grounded in the trust central banks provide,” they write. The ongoing money revolution and its implications for finance, monetary policy, international capital flows and society at large is the focus of our September edition. F&D delves into Crypto and CBDCs by drawing on cutting-edge research and analysis from economists and other leading experts including Agustín Carstens, Eswar Prasad, Ravi Menon, Tobias Adrian and many others. Want to get a print copy delivered to your home or office? | 
