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Norway Pauses CBDC Plans as Norges Bank Sees No Immediate Need for Digital Krone
Norway Pauses CBDC Plans as Norges Bank Sees No Immediate Need for Digital Krone
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BTCCSquare news:
Norway's central bank has concluded that a central bank digital currency (CBDC) is not currently necessary, despite extensive research and global trends favoring digital currencies. Norges Bank cited the efficiency and security of Norway's existing payment system as the primary reason for delaying the introduction of a digital krone.
The bank emphasized that Norway's payment infrastructure remains robust, with fast settlement times and low costs, even as cash usage declines. Governor Ida Wolden Bache noted that while a CBDC is not urgent, the bank will remain prepared to act if future shifts in payment systems or international standards necessitate it.
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