exchanges will not assist claimants if – as is often the case – the account holder has had his identity stolen ."
More pilot schemes launched for CBDCs Globally , pilot schemes for the new digital currencies are being rolled out during 2023 . The Federal Reserve Bank of New York announced a major pilot scheme in November 2022 . The programme is being pressure tested for 12 weeks , and the data gleaned will shape the full rollout of the digital US dollar – which , as yet , has not been announced .
According to reports , the banks and fintechs involved will be exploring the feasibility of an “ interoperable network of central bank wholesale digital money and commercial bank digital money operating on a shared , multi-entity , distributed ledger ” on a regulated liability network . Furthermore , banking behemoths including Citi , HSBC , BNY Mellon , PNC Bank , Mastercard , TD Bank , Truist , US Bank and Wells Fargo are taking part in the pilot via a token issuing scheme , settling transactions through simulated central bank reserves .
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