The Bank of Canada has suspended its digital Canadian dollar CBDC plan

ChainCatcher message, the Bank of Canada has suspended its plans for a central bank digital currency (CBDC), and the central bank did not specify the reasons for the suspension. The Bank of Canada first launched a research project in 2019 to explore the creation of a digital Canadian dollar and conducted public consultations in 2022.

The central bank stated that it will continue to conduct policy research and analysis on payment developments both domestically and internationally.