Bank of England Official Balks at Shielding Banks Against Digital Currencies: Report
Deputy Governor Jon Cunliffe says protecting bank business models is not BoE's responsibility.
China is leading major nations in the development of a CBDC but the digital yuan project has raised concerns.
The Bank of Jamaica will pilot the CBDC in its fintech regulatory sandbox from May to December.
Through the committee, the BOJ said it will update the private sector and policymakers and seek input on the next steps regarding a CBDC.
The Bahamian Sand Dollar can now be used for payments anywhere Mastercard is accepted.
With a runway of a year or more before the Federal Reserve and other major central banks can launch digital currencies, bitcoin and other private cryptocurrencies could gain a foothold in electronic commerce.