Citing a rise in DeFi exploits, the Bank for International Settlements has called for central banks to build more secure CBDCs.
On July 7, the Bank for International Settlements , a financial institution owned by constituent central banks,a framework for defending central bank digital currencies against cybersecurity threats. The BIS wrote:
In its report, the BIS said security frameworks should safeguard the confidentiality, integrity, and availability of CBDC transactions. By design, CBDCs must be able to dynamically scale to respond to a sudden surge in transaction volumes, have no single points of failure, operate 24/7 without outages, and function even if their underlying financial institution experiences an outage. Moreover:
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