Altcoin News by Thebittimes.Com

The central bank of Thailand is not going to rush with the launch of its digital currency as it’s not yet sure about the benefits it would bring. According to the head of the monetary authority, the development of the state-issued coin may take several years. Thailand’s Central Bank Wants to Better Understand Risks of Central Bank Digital Currency The Bank of Thailand (BOT) intends to take more time to complete the development of its retail central bank digital currency (CBDC). The monetary policy regulator aims to ensure that this version of the national fiat will offer additional benefits to the country’s financial system under sufficient risk management. A number of central banks, including that of Thailand, have been developing retail CBDCs but they are yet to fully implement them, the Bangkok Post noted in a report. Retail CBDC development is expected to take more than five years before market launch, according to the BOT Governor Sethaput Suthiwartnarueput, quoted by the daily...

Join Our Telegram channel to stay up to date on breaking news coverage The reserve Bank of India (RBI) has announced its plans to launch a central bank digital currency (CBDC). In a 51-page note released on October 7, the bank looked into the primary motivations behind issuing an Indian CBDC. Reserve Bank of India outlines CBDC plans The document summarizes the key motivations behind issuing a CBDC in India. It highlights safety, trust, liquidity, integrity, and settlement finality as some of the key Features behind a sovereign digital currency. One of the key motivations behind issuing a CBDC in India is to lower the operational costs of managing physical cash within the country. The RBI has also outlined other factors like boosting resilience and efficiency and supporting innovation in the payments system. A CBDC would also streamline cross-border payments and settlements in remote areas that do not have stable electricity connections or access to mobile network . While ...