• Home
  • Login
  • Register
Currency Insider
  • Home
  • Reading Library
  • CBDC Think Tank
SUBSCRIBE
No Result
View All Result
Currency Insider
  • Home
  • Reading Library
  • CBDC Think Tank
Currency Insider
No Result
View All Result

Bank of Canada Working With G7 on Its CBDC

by CBDC Insider
October 30, 2020
in Business
Reading Time: 1min read
0
Bank of Canada Working With G7 on Its CBDC
Share on FacebookShare on Twitter

Governor of Bank of Canada, Tiff Macklem revealed today that the central bank was working with its G7 partners towards its own digital currency. The Governor also highlighted a need for a “globally coordinated” approach to developing CBDCs in order to keep criminals away from using such tools. Earlier this month, a group of seven central banks from around the globe, including the Bank of Canada compiled a report on the foundation principles of CBDCs.

With regard to CBDC project, Bank of Canada aimed to move proof of concepts towards the execution of its digital loonie – its CBDC. However, Macklem believed that the Bank did not see a need for issuing a digital currency “right now”. In addition to this, the Governor was concerned about another country’s potential digital currency, when Canada did not have a CBDC of its own.

Read more: https://eng.ambcrypto.com/bank-of-canada-working-with-g7-on-its-cbdc/

RELATED STORIES

Would CBDC Become a Golden Opportunity for Banks and Processors?

Would CBDC Become a Golden Opportunity for Banks and Processors?

March 20, 2023
Crypto News Recap: RBI and CBUAE to Develop CBDC

Crypto News Recap: RBI and CBUAE to Develop CBDC

March 20, 2023
Previous Post

Bank of Canada Says Digital Currencies Need Globally Coordinated Approach

Next Post

Jerome Powell: CBDC Could Improve U.S. Payment System

Next Post
Jerome Powell: CBDC Could Improve U.S. Payment System

Jerome Powell: CBDC Could Improve U.S. Payment System

© 2022 CBDC Insider

No Result
View All Result
  • Home
  • Map
  • Reading Library
  • CBDC Think Tank
  • Partners
    • DEA
  • Login
  • Register