According to TechFlow, on September 19, Decrypt reported that the Bank of Canada officially shelved its central bank digital currency (CBDC) plan, known as the "digital Canadian dollar", ending nearly five years of research. The Bank of Canada has publicly studied the impact of CBDC since 2019 and conducted a public consultation in 2022. A research report in early 2024 pointed out that as the use of cash continues to decline, the introduction of a CBDC could help Canadians maintain monetary sovereignty and financial stability. Another report predicts that if implemented, the new CBDC could reduce the country's bank deposits by up to 12%.

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