The Bank of Canada (BoC) will not be introducing a digital currency any time soon.
After researching and holding public consultations on the idea of a central bank digital currency, the BoC said it will be shifting its focus away from the concept.
“With this work completed, and with other payments issues gaining prominence, the Bank is scaling down its work on a retail central bank digital currency and shifting its focus to broader payments system research and policy development,” the BoC said on its website. “The Bank will be ready to ensure Canadians always have a safe and secure supply of public money.”…