According to BlockBeats, on September 19, Decrypt reported that the Bank of Canada officially shelved its central bank digital currency (CBDC) plan, known as the “digital Canadian dollar”, ending nearly five years of research. The Bank of Canada has been conducting public research on CBDC since 2019 and will conduct public consultations in 2022.
A research report released in early 2024 pointed out that as the use of cash continues to decline, the introduction of CBDC may help Canada maintain monetary sovereignty and financial stability.
