As a seasoned researcher with a background in central banking and digital currencies, I find the Norwegian task force’s recommendation against immediate adoption of a CBDC intriguing. Having closely followed the developments in this field across various countries, it seems that Norway and Sweden share a similar approach to digital currency – cautious yet open-minded.
An advisory group from Norway recommends not rushing into implementing a digital currency controlled by the central bank right away.
According to a report from Bloomberg, an advisory panel in Norway has suggested that the government should not immediately implement a centrally controlled digital currency. Instead, they recommend that policymakers work on establishing the proper regulatory structure for a possible future release of such a currency.
The task force concluded that cash remains critical to ensuring accessible and secure payments but acknowledged that a “central bank digital currency may in the future be a relevant instrument for safeguarding these considerations.”
As a crypto enthusiast, I find myself residing in one of the most digitally advanced regions in Europe – Norway. A recent survey conducted by Norges Bank in 2023 revealed that an astonishingly low 2% of respondents opted for cash in their latest face-to-face financial transaction, as reported by Bloomberg. This trend towards a cashless society is not only fascinating but also hints at the growing potential for digital assets like cryptocurrencies in my daily life.
Norway’s approach mirrors Sweden’s stance
As a researcher, I found a striking parallel in the recommendations from Sweden’s task force and my ongoing investigations. Similar to their findings, a Swedish government-commissioned inquiry suggested that there is currently no urgent requirement for an e-krona. Interestingly, they advised the Riksbank to reconsider their plans on this matter.
one for retail use and another for interbank transactions, which is becoming increasingly popular worldwide.
2021 marked the commencement of Norway’s fifth stage in investigating Central Bank Digital Currencies (CBDC), having spent the preceding two years engaged in joint studies. It is anticipated that a conclusion regarding its deployment will be made by the close of 2025.
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2024-11-15 16:52