Norway’s advisory committee has officially advised against the immediate adoption of a Central Bank Digital Currency (CBDC). Instead, the committee urges lawmakers to focus on developing a robust regulatory infrastructure to prepare for future adoption.

Key Highlights from the Report

1️⃣ Cashless Dominance in Norway:

Norway is one of Europe’s most cashless countries, with only 2% of testifiers using cash for the majority of in-person transactions.

20% of physical point-of-sale payments are made via mobile platforms, underscoring the nation’s reliance on digital payment methods.

2️⃣ Current CBDC Research Status:

The research process is now in its fifth phase, with a decision on CBDC implementation expected by 2025.

The committee recognizes cash as an accessible and secure payment method but suggests CBDC could protect these values in the future.

3️⃣ Committee’s Recommendations:

Delay Immediate Adoption: Urged against rushing into CBDC adoption.

Develop Regulatory Framework: Proposed creating a mandatory regulatory structure for smooth future expansion.

Global Context: Other Nations’ Approaches to CBDCs

Sweden:
Similar to Norway, Sweden has deferred immediate adoption of the e-krona and has asked its central bank, Riksbank, to revise its plans.

South Korea:
South Korea is actively piloting a CBDC in collaboration with seven major banks. This initiative explores the use of CBDC tokens for public transactions, with adoption expected by 2025.

Norway’s CBDC Future

Deputy Governor Pal Longva of Norges Bank stated that the central bank is closely monitoring both retail and wholesale models of CBDCs, with a focus on their application in interbank transactions.

Final Decision Timeline:

2025: Norges Bank will present its recommendations on whether to adopt a CBDC.

The decision will be based on global resistance and the results of ongoing research.

Implications for Norway’s Payment Landscape

While Norway leads in digital payment adoption, the cautious stance reflects a need for thorough evaluation of CBDCs to:

Ensure accessibility and security in payments.

Avoid unnecessary disruption to an already efficient cashless economy.

Conclusion

The Norwegian advisory committee’s recommendation emphasizes careful planning and regulatory groundwork before adopting CBDCs. As Norway explores its options, its strategy mirrors a global trend of measured adoption to ensure long-term financial stability.

In a bold move towards reshaping America’s crypto future, President-elect Donald Trump’s team is reportedly in talks with key cryptocurrency industry leaders to draft a more lenient regulatory framework. This shift aligns with Trump’s campaign vision to make the U.S. the “crypto capital of the planet.”

Key Highlights:

Crypto-Friendly Appointments: Trump’s team is considering crypto-savvy candidates for pivotal roles in the SEC, CFTC, and FDIC, with names like Daniel Gallagher (Robinhood), Hester Peirce, and Paul Atkins in the mix.

Presidential Council on Digital Currencies: Discussions are underway to establish a council specifically focused on digital currency integration.

Executive Orders on Crypto: Trump’s administration is exploring executive orders to clarify and streamline federal oversight of digital assets.

With these potential regulatory adjustments, crypto leaders and investors are optimistic about the future. However, some warn of risks, recalling the FTX collapse of 2022 as a cautionary tale.

Could Trump’s next term solidify America’s dominance in the crypto world? Stay tuned as the regulatory landscape evolves!

The world of cryptocurrency is about to hit another major milestone as online search giant Google is set to change its advertising policies on Monday, January 29. This update will allow the promotion of certain products related to cryptocurrencies on the main search engines, thus marking a significant change in the company's position vis-à-vis this expanding financial universe.For years, Google had imposed strict restrictions on cryptocurrency advertising, citing concerns over user security and preventing fraudulent activity. However, this new approach suggests an evolution in how Google views cryptocurrencies and recognizes their growing legitimacy in the global financial landscape.The announcement of this update comes at a time when interest in cryptocurrencies is at record levels. Assets like Bitcoin, Ethereum and other altcoins have become hot topics of investment and discussion, attracting the attention of individual and institutional investors around the world.This decision by Google could have a significant impact on the cryptocurrency industry on several levels:1- Increased visibility: By allowing the advertising of certain cryptocurrency products on its platforms, Google provides unprecedented visibility to these digital assets. This could lead to increased awareness and wider adoption of cryptocurrency among the general public.2- Enhanced legitimacy: The fact that Google opens its doors to advertising cryptocurrencies could strengthen their legitimacy and acceptance in the traditional financial world. Institutional investors may be more inclined to explore these assets once they have the stamp of approval from one of the Internet's biggest players.3- Industry Growth: With greater visibility and acceptance, the cryptocurrency industry could see exponential growth. Businesses operating in this space will now have access to a major advertising channel to promote their products and services.However, this move by Google is not without risks and challenges. The volatile and often controversial nature of cryptocurrencies raises concerns about protecting consumers from deceptive business practices and scams. Google will need to put robust mechanisms in place to ensure that cryptocurrency-related advertisements meet strict ethical and legal standards.The implications of this Google policy update will be felt across the entire cryptocurrency ecosystem and beyond. Investors, businesses and market observers will be paying attention to the impact of this decision on asset prices, innovation in the sector and the general perception of cryptocurrencies in society.As the cryptocurrency landscape continues to evolve, Google's openness to advertising certain cryptocurrency products represents a significant step in the maturation and normalization of this emerging financial space. It remains to be seen how this decision will influence the future trajectory of cryptocurrencies and their place in the global economy.Don't forget to like and follow me 😊#CryptoAdGoogle #CryptoAdvertising #DigitalCurrency #GooglePolicy #BTC🔥🔥

Cryptocurrency provides a decentralized system that promotes financial inclusion and reduces dependence on traditional banking systems. Its blockchain technology enhances transparency and security, eliminating the need for intermediaries in transactions, and giving users greater control over their assets. Furthermore, the potential for innovation in decentralized finance (DeFi) and the concept of non-fungible tokens (NFTs) adds exciting dimensions to the world of crypto.#Crypto #WahajAfridi #DigitalCurrency