🇦🇺🇨🇦🇨🇴 Australia, Canada and Colombia are pausing plans to issue central bank digital currencies (CBDCs). Central banks are concerned that CBDCs could destabilize the financial system and reduce the number of deposits. 💸

- ​​Reserve Bank of Australia: "No clear case for retail CBDC."

- Bank of Colombia: "No sufficient case for CBDC."

- Bank of Canada: "Reduce scope of work on retail CBDC, focus on broader payment system research."

Central banks say people already have many options from the private sector such as mobile banking, payment apps and cryptocurrencies.

What do you think about the future of CBDCs? Comment below! 👇

#Crypto#Blockchain#Finance#Tech#BTC#CBDC