Taiwan central bank says it is working on digital currency, unclear on timetable

29/6/2022 9:42:00 AM

Taiwan central bank says it is working on digital currency, unclear on timetable

Taiwan central bank says it is working on digital currency, unclear on timetable

TAIPEI : Taiwan's central bank is still working on its digital currency and while it's unclear when the scheme could roll out to the public it will push ahead with it, governor Yang Chin-long said on Wednesday.Taiwan's central bank has been working on a pilot for a government-run digital currency for the

TAIPEI : Taiwan's central bank is still working on its digital currency and while it's unclear when the scheme could roll out to the public it will push ahead with it, governor Yang Chin-long said on Wednesday.Taiwan's central bank has been working on a pilot for a government-run digital currency for the past two years, to allow people to use a digital wallet and make payments without using a debit or credit card.

Speaking at a forum on digital currencies, Yang said they have been simulating the use of the central bank digital currency, or CBDC, in a closed loop environment.The central bank faces three major tasks next, he added: communicating with the public and winning their support, ensuring the system's stability, and building the legal framework for the currency's operations.

Read more: CNA »

3 elderly people arrested, including woman who was taken to hospital, after fight along Arumugam Road

SINGAPORE — The police arrested three people on Wednesday (Aug 10) for their alleged involvement in a case of affray along Arumugam Road near MacPherson. Read more >>