One option would be to try to engineer some form of international coordinated policy response, bringing on board both EMEs and advanced economies. But at this stage, this option does not seem to be feasible. As the late Anna Schwartz used to say: “international policy coordination is a fair weather phenomena”.
Banking Activities Research and experimentation are also occurring at supervised banking institutions to explore new technology to enhance their own operations and in response to demands from their clients for services such as custody of digital assets.