The governor of the Bank of Canada, Tiff Macklem, has called for a “globally coordinated” effort to create CBDCs. According to the governor, the coordinated effort would prevent criminals from using state-backed digital currencies.
In a Reuters , Macklem also confirmed that the Bank of Canada is working with its G7 regarding creating a digital currency.
While speaking to Reuters, the governor added that the bank was working on advancing from “proof of concepts” to a more feasible plan for a digital loonie. However, Macklem said the central bank does not have a reason to further the process at the moment.
The governor told Reuters:
staff analytical noteImage Credits: Pixabay
