The Bank of Canada is discontinuing its work on retail central bank digital currency (CBDC) as per an update on its website. While wholesale CBDC was not mentioned, the bank highlighted that its research was ongoing. Having conducted extensive research on CBDC, the Bank of Canada is now redirecting its attention to more urgent matters. Previously viewing CBDC as a 'contingency plan,' the bank is now preparing for new responsibilities. Payments Canada is progressing with the Real-time Rail instant payment system, with the Bank of Canada among its 100+ members. Additionally, the Bank of Canada will enhance supervision of retail payments under the Retail Payment Activities Act of 2021. Despite minimal public interest in CBDC, the bank's research, conducted in collaboration with international entities, remains valuable for potential future digital currency initiatives. Read more AI-generated news on: https://app.chaingpt.org/news