Should Central Banks Issue Digital Currency? Suddenly, It’s an Urgent Question.

Stable digital currencies — and particularly Facebook’s plans to launch one — have central bankers playing defense

A collage of three governmental buildings tinted blue, orange, and fuchsia (respectively) on a black background.
Photo illustration: Ms. Tech. Original images: Max12Maxx, Wikimedia Commons; AP; Bank of International Settlements

By Mike Orcutt

For years, powerful central banks around the world have claimed to be studying digital currencies…