CBDC anonymity will impact bank lending: Bank of Canada
If the CBDC’s anonymity is sufficiently high, it will lure low-quality entrepreneurs as commercial banks cannot access their inflows, and vice versa.
Latest Bank of Canada News
Bank of Canada: CBDC with nationwide service locations will slice 12% of bank deposits
The central bank dismissed fears that a CBDC would disintermediate banks as the extra services they offer, like mortgages and credit cards, would retain clients.
Canadians still don’t like CBDCs
More Canadians still prefer cash over a central bank digital currency, citing the latter's risks when it comes to privacy, accessibility, and financial stability, according to findings of a public consultation.
Canada’s central bank explores DeFi, highlighting technical and regulatory hurdles
Bank of Canada highlighted several flaws associated with DeFi use, including limited tokenization, unregulated centralized entities, and increased interconnectedness in the system.
Bank of Canada identifies global barriers in developing inclusive CBDC
Financial inclusivity isn't the only key to developing a universally accessible payment method, the Bank of Canada said, insisting that it should work in tandem with digitization and accessibility.
Canada to create central repository for seized NFTs, digital currencies
Canada's RCMP plans to launch a central repository to store seized digital assets with features like processing transactions from various blockchains, supporting NFTs, and automating wallet recovery.
Bank of Canada sees limited adoption of CBDC amid declining mainstream acceptance
As the use of digital payments continuously declines, the Bank of Canada sees insufficient reason to fully adopt CBDC but instead plans to focus on internet access and low-cost bank options in rural areas.
Bank of Canada launches CBDC consultation
While a digital dollar “is not needed at this time,” the Bank of Canada wants to be ready as it fears digital currencies could threaten monetary sovereignty.
Bank of Canada experiments with offline CBDC payments
Bank of Canada claims that an offline central bank digital currency will allow users to transfer digital Canadian dollars without internet, but certain factors must be considered first.
Bank of Canada pushes for firmer stablecoin regulation
The global stablecoin market capitalization currently stands at an impressive 161 billion, and the researchers from the Bank of Canada pointed out the potential pitfalls.
Bank of Canada executive director: No ‘blanket supervisory approach’ on digital payment providers
Instead of a blanket supervisory approach, the Bank of Canada will impose regulations centered on end-user impacts and providing efficient payment services.
Bank of Canada identifies key archetypes for uniform development of retail CBDC
The Bank of Canada argues the need to consider a central bank digital currency design that combines aspects of multiple archetypes to ensure a common framework across different platforms.