đ¨đ¨Why Australia, Canada, and Colombia Are Right to Hit Pause on CBDCsđ¨đ¨
Australia, Canada, and Colombia have recently paused their plans to launch central bank digital currencies (CBDCs). Interestingly, this decision is driven by the central banks themselves, not just public opposition.
These countries are citing several reasons, such as the adequacy of existing private sector payment options like mobile banking and cryptocurrencies, which are already serving their populations well.
The Reserve Bank of Australia, Bank of Canada, and Banco de la RepĂşblica de Colombia are now focusing more on broader payment systems research and policy development rather than immediate CBDC rollouts.
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