Trends
Taiwan central bank has no timetable for launch of digital currency
OUR TAKE A study released in March showed that a total of 134 countries, representing 98% of the global economy, are exploring digital versions of their national currencies, with more than half of them in advanced development, pilot or start-up stages.–Zora Lin, BTW reporter What happened Taiwan c.b…
Headline
OUR TAKE A study released in March showed that a total of 134 countries, representing 98% of the global economy, are exploring digital versions of their national currencies, with more than half of them in advanced development, pilot or start-up stages.–Zora Lin, BTW reporter…
Context
OUR TAKE A study released in March showed that a total of 134 countries, representing 98% of the global economy, are exploring digital versions of their national currencies, with more than half of them in advanced development, pilot or start-up stages. –Zora Lin, BTW reporter Taiwan c.bank says it has no timetable for launching a digital currency on Sunday, warning that the process will be “large and complex,” but it will hold public hearings on the matter next year to spread knowledge.
Evidence
Pending intelligence enrichment.
Analysis
Taiwan c.bank has been piloting a government-run digital currency that allows people to use a digital wallet to make payments without using a debit or credit card. “Although the central bank currently has no timetable for issuing a central bank digital currency, in the process of continuous research and experimentation, it is already improving the processing efficiency and innovative applications of the payment system,” bank says in a report to Parliament. Before taking questions from lawmakers on Monday, central bank governor Yang Jinlong says given that the launch of the yuan will affect many people, there is a need for extensive communication on it, public hearings and forums will be held next year to raise awareness about the currency. Also read: Singapore ups the risk factor for cryptocurrency exchanges
Key Points
- Taiwan c.bank says that launching a digital currency will be “large and complex” and it will hold a public hearing on the matter next year.
- While digital currencies can provide an alternative to physical cash, they will also likely spark protests over possible government snooping.
Actions
Pending intelligence enrichment.
