Malaysia has joined the growing group of countries looking into researching and developing a central bank digital currency (CBDC).
Malaysia’s central bank, Bank Negara Malaysia, told Bloomberg on Jan. 17 that while exactly how to move forward with a CBDC has yet to be decided, it has focused its research on a CBDC “through proof of concept and experimentation to improve our capabilities.” technical and political.
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It also stated that the ostensible reason for the current investigative effort was to ensure that it is prepared to launch a CBDC program “should the need arise to issue a CBDC in the future.”
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