Bank of Canada Scraps CBDC Development

https://fullycrypto.com/bank-of-canada-scraps-cbdc-development?utm_source=rss&utm_medium=rss&utm_campaign=bank-of-canada-scraps-cbdc-development
Reading Time: 2 minutes The Bank of Canada has abandoned its development of a Central Bank Digital Currency (CBDC) following extensive research and consultations The decision comes after the bank determined that there was no immediate public need or strong demand for such a currency at this time Officials have clarified that any future introduction of a CBDC would require more public consultations and government backing before proceeding The Bank of Canada has confirmed it is no longer pursuing the development of a Central Bank Digital Currency (CBDC…