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Bank of Canada Puts CBDC Development on Ice: Is This Indicative of Global CBDC Demise?

The Fintech Times

While 134 countries and currency unions, representing 98 per cent of global GDP, are currently exploring a central bank digital currency (CBDC), the Bank of Canada has revealed it is officially putting efforts to introduce a digital version of the Canadian dollar on pause. Could a CBDC still be in Canada’s future?

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Bitcoin Daily: UK Researching CBDC Use Cases; Lebanon To Introduce CBDC In 2021; SEC Member Pushes For Cryptocurrency Regulation; ShapeShift Delists Three Privacy Coins

PYMNTS

Treasury Department is researching use cases for a central bank digital currency (CBDC), as well as drafting regulatory proposals for private stablecoins, U.K. Meanwhile, Lebanon Governor Riad Salameh announced that the country will be introducing a CBDC next year, to “restore confidence,” reported Bloomberg.

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Hong Kong Monetary Authority Launches Wholesale CBDC Project to Develop Local Tokenisation Market

The Fintech Times

Through the new project, Hong Kong Monetary Authority will explore innovative financial market infrastructure (FMI) that will facilitate seamless interbank settlement of tokenised money through a wholesale CBDC. We welcome global talents and industry players to come to Hong Kong and be part of this very exciting tokenisation journey.”

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What Would it Take to Get Users Onside With CBDCs for Everyday Use?

The Fintech Times

However, the idea that digital assets are exclusively some form of currency is slowly falling by the wayside as different use cases are emerging and being rapidly adopted. The potential use cases and benefits for users are hazy at best. This may mean that, initially, acceptance of the retail CBDC is gradual.

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Australia Central Bank Sees No ‘Public Policy’ Case For CBDC (For Now)

PYMNTS

In notes on its most recent (August) meeting of the bank’s Payments System Board, the members said that “at present there is not a strong public-policy case for issuance in Australia, given that the electronic payments system in Australia compares very favorably with those in many other countries and access to cash remains good.”.

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Federal Reserve’s Cunha on the State (and Timeframe) of Digital Dollars

PYMNTS

And there’ll be quite a bit of tinkering with the technology (especially the infrastructure) and the use cases to get there. As many as 80 percent of the 66 central banks polled by the Bank of International Settlements said they were at some stage of CBDC development. Digital dollars are a maybe – but if so, not for a while.

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Bitcoin Daily: Caymans Introduce Digital Asset Regulatory Framework; Reserve Bank Of Australia To Test CBDC; Huobi Expands Support For Visa And Mastercard

PYMNTS

In other news, the Reserve Bank of Australia (RBA) is exploring the potential of a central bank digital currency (CBDC), in partnership with the National Australia Bank , Commonwealth Bank , Perpetual Limited and ConsenSys Software , the bank announced in a press release. RBA expects to finish the project at the end of this year.

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