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Australia Delays CBDC Introduction Due to Unresolved Issues, Says Central Bank

Australia's central bank, the Reserve Bank of Australia (RBA), has announced that it will not be making any decisions on a central bank digital currency (CBDC) for several years due to unresolved issues. The decision was made after a year-long research project conducted by the RBA and the Digital Finance Cooperative Research Centre (DFCRC) around the payments system.

The report highlighted the need for further research due to a range of legal, regulatory, technical, and operational issues, including finding affordable and secure solutions for key management and integrating a CBDC platform with industry use case applications. The report also noted that CBDCs could be viewed as an enabling complement to private sector innovation and that there was potential for privately issued stablecoins backed by CBDC.

Australia Central Bank Digital Currency
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