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Central Bank Of The Philippines Will Not Release A Central Bank Digital Currency Until After 2023
Summary: The central bank of the Philippines will not be pursuing a central bank digital currency until 2023, BSG Governor Benjamin Diokno said during a press briefing on Thursday, October 22. Diokno stated that the central bank would not research a CBDC for the duration of his term which ends in 2023, as reported by CNN ...
The central bank of the Philippines will not be pursuing a central bank digital currency until 2023, BSG Governor Benjamin Diokno said during a press briefing on Thursday, October 22.
Diokno stated that the central bank would not research a CBDC for the duration of his term which ends in 2023, as reported by CNN Philippines.
The announcement comes after an exploratory report surrounding a digital peso, however Diokno said there is a lot more work to be done before it can be considered. Central banks around the globe are considering issuing a digital currency, including the European Central Bank, The US Federal Reserve and the People's Bank of China. The Bahamas even released a version of its CBDC - the sand dollar - earlier this week.
By Emily Mason
Tags: CBDC,Central Bank Digital Currency,Philippines
Link: Central Bank Of The Philippines Will Not Release A Central Bank Digital Currency Until After 2023 [Copy]
