New Zealand wants to issue digital currency, but plans to get the opinion of the people first. Bloomberg writes about it.
The Central Bank of New Zealand said current trends in the use of cash and innovation in money are prompting consideration of a digital currency release (CBDC).
However, the regulator noted that this is a rather complicated procedure that will take a long time. At the same time, the central bank approves of this idea.
“The digital currency should support the New Zealand dollar as a single unit of account and exchange from 1 to 1 cash,” the Central Bank said.
The currency must be resilient to failures and risks and ensure data confidentiality.
The Central Bank of New Zealand has asked the public to comment on the idea of issuing digital currency before December 6th.
And by the end of April 2022, a further action plan will be published.
Which countries are also planning to launch electronic money
- Indonesia does not intend to ban Bitcoin (BTC) like China
- Reasons for the Growth of the Lightning Network
Previously, the release of digital currencies was discussed in the following countries:
– Kenya and others.
In Ukraine, there has also been a discussion about the launch of e-hryvnia for several years now. The NBU has been actively researching the CDBC topic since 2016 and has already initiated amendments to the legislation.