February 20, 2024

Central Bank of Canada is exploring the possibility of issuing digital currency

Central Bank of Canada is exploring the possibility of issuing digital currency

The Bank of Canada, the country's central bank, is exploring the possibility of issuing a digital currency. For this purpose, forThe bank's management prepared a presentation on the usefulness of this tool.

The digital currency issued by the central bank will offer “all the benefits” of assets secured by the central bank, provided that the security and convenience of electronic payments are present.

We need to innovate to stay relevant.game, – the presentation says, – Cryptocurrencies can become a direct threat to the conduct of monetary policy and the role of lender of last resort.

The proposed digital currency could also help regulators gather information.

Personal data is not transferred to the recipient, but may be transferred to the police or tax authorities, – says the presentation.