The Reserve Bank of Australia (RBA) has released a strategic statement, announcing that it will prioritize the development of wholesale central bank digital currencies (CBDCs), while suspending plans for retail CBDCs.
Brad Jones, the RBA's assistant governor for financial systems, said in a statement that wholesale CBDCs showed more significant potential benefits and faced fewer challenges than retail CBDCs. The RBA and Treasury will also undertake some form of public engagement on retail CBDCs in 2025 and conduct further research and experimentation in the coming years. The RBA and Treasury will publish further documents in 2027 that will examine the benefits and potential forms of retail CBDCs.
The Reserve Bank of Australia will prioritize the development of an institution-oriented CBDC.
2024-09-18 10:42:24
Australia reserve bank rba release strategy statement announcementdesk3cryptocurrencydesktopCrypto News
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