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Oct 4, 2022 11:51
Australia begins testing its national CBDC cryptocurrency in 2023
The Reserve Bank of Australia (RBA) announced the pilot launch of a national digital currency (CBDC) in the first half of 2023. According to official information, the key objectives of this project are to identify innovative business models and scenarios of use, plus the benefits and risks of CBDC for the state.
The RBA intends to test for four to five months. The financial regulator promises to publish the results of testing of the Australian digital dollar by the middle of next year.
Earlier, back in late 2021, the head of the Australian Treasury, Josh Frydenberg, already announced the plans of the authorities to issue a national digital currency. In July of this year, the manager of the RBA, Philip Lowe, stated the advantage of regulated cryptocurrencies.
However, there are crypto pessimists in the ranks of the Australian elite. In September, for example, Andrew Bragg, a senator from the Australian state of New South Wales, made a statement that digital currencies pose threats to national security.
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