Bank of Canada abandons CBDC in the near future



1XBET: 100% Welcome Bonus.
CLICK ON THE BANNER TO REGISTER And CLAIM BONUS INSTANTLY


Bank of Canada abandons CBDC in the near future

Am Sure you can learn successful Blogging secrets through me, am also sure you can learn how to make money online with the help of my updates why not leave your email behind let me show you how.

The Canadian Central Bank is not going to issue its own digital currency (CBDC) in the near future, said Timothy Lane, deputy governor of the Central Bank.

He noted that many Canadians are faced with long delays and the high cost of cross-border transfers that digital currencies can solve.

Bitcoin failed to become the “money of the future,” Lane said, but stablecoins could potentially “transform the world of payments.” He highlighted the growing popularity of private digital currencies, highlighting Facebook’s upcoming Libra project.

Nevertheless, the Bank of Canada is not yet ready to issue its own digital currency.

“We came to the conclusion that at the moment there are no strong arguments in favor of the CBDC release. Canadians will use the existing payment ecosystem if it is modernized, ”said Lane.

However, the regulator does not deny the release of CBDC in the future. According to the representative of the Central Bank, this can happen when you refuse to use cash or the widespread use of private digital currencies.

“It could be one dominant digital currency created by a large technology company, a monopoly that would undermine competition and privacy and create a problem for Canada’s monetary sovereignty,” said Lane.

The Bank of Canada will continue to explore the potential of CBDC and citizen demand for such an asset, he concluded.

Recall that the possibility of creating their own digital currency in the Canadian central bank was announced last year.

Bank of Canada abandons CBDC in the near future



1XBET: 100% Welcome Bonus.
CLICK ON THE BANNER TO REGISTER And CLAIM BONUS INSTANTLY


Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *