The Philippines has become the most recent country to join the ranks of countries piloting or considering looking to cryptocurrency by means of a central bank digital currency (CBDC).
As reported by Bloomberg, Governor Benjamin Diokno said that the Philippine central bank has established a team which will be looking into the possibility of a digital currency. This includes exploring the feasibility and policy implications of a CBDC. He suggested that the bank will first need to look at the findings, research, and insights before making a decision to launch a digital currency. Results of an investigation conducted by the committee are expected to be in August.