The Bank of Canada has announced a strategic shift away from developing a retail Central Bank Digital Currency ( CBDC) to focus on broader payments system research and policy development. This decision follows a public consultation in 2023, which revealed significant privacy concerns among Canadians. While the central bank remains open to revisiting the idea of a digital Canadian dollar in the future, it will prioritize ensuring privacy and accessibility in any potential digital currency. The Bank of Canada will continue to monitor global developments and publish related research, emphasizing its commitment to enhancing the country’s financial infrastructure.
Bank of Canada Redirects Efforts Away From Retail CBDC
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