Regulating and speeding up payments without a CBDC are more important to the Canadian central bank.
The Bank of Canada is winding down its work on retail central bank digital currency (CBDC), according to an update to the central bank’s website. The announcement did not mention wholesale CBDC, but it emphasized that its research was continuing.
The Bank of Canada has done extensive research on CBDC and is now shifting its focus from CBDC research to other more pressing issues.
The Bank of Canada’s position on CBDC was that it needed a “contingency plan” in case it became necessary. The current shift in focus comes as the bank prepares for new responsibilities. The Bank of Canada said:
