Bank of Canada Scraps Plan to Create a CBDC

by Anthony Murdoch | LifeSite News

Plans by the Bank of Canada (BOC) to implement a digital “dollar,” also known as a central bank digital currency (CBDC), have been shelved.

Officials from Canada’s central bank said that a digital currency, or electronic “loonie,” will no longer be considered after years of investigating bringing one to market.

“The Bank has undertaken significant research towards understanding the implications of a retail central bank digital currency, including exploring the implications of a digital dollar on the economy and financial system, and the technological approaches to providing a digital form of public money that is secure and accessible,” the bank said, according to the Canadian Broadcasting Corporation. Read Full Article >