RBNZ’s Bascand: too soon to decide on issuing digital currency
New technology could reduce payments efficiency and increase financial instability, deputy governor warns
The Reserve Bank of New Zealand considers it too soon to decide whether to issue its own digital currency, due to perceived difficulties in payments and increased financial risk.
“The payments industry is dynamic and the Reserve Bank is searching for ways to harness new technologies and do things better,” said Geoff Bascand, deputy governor at the RBNZ in a speech on June 26. “Currently, it is still too early to determine whether a digital currency should be issued.”
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