For my address this evening, I will begin with some general conceptual issues relating to the banking scene and then follow-up with some specific matters that touch on the Bank of Ghana’s regulatory and supervisory role.
For starters, with regard to money laundering risks, unless there is the technological capability for effective identity authentication, a central bank digital currency would provide no improvement over physical notes and could be worse than current noncash funds transfer systems, especially for a digital currency that could circulate worldwide.