Namibian central bank announces plan to launch CBDC

04/09 06:43

According to News.bitcoin, Johannes Gawaxab, the governor of the Bank of Namibia (BON), recently confirmed that the central bank is now planning to launch a CBDC. He confirmed the BON has already started researching CBDCs which, according to him, are now a “reality” that cannot be ignored. He said: “The number and value of cryptocurrencies have surged, raising the possibility of a financial world operating outside the control of governments and central banks. There is thus a need for central banks to have a clear digital currency agenda to reinforce Central Bank authority over money and maintain control over the payment system.” Concerning Namibia’s proposed digital currency agenda, Gawaxab is quoted that such an agenda should only be accepted if it’s a product of consultations between governments, financial institutions, and the general public. Meanwhile, the BON governor suggested that while the central bank is looking to launch the CBDC, the country’s policymakers should also be aware of the potential impact on financial stability that comes with such a digital currency launch.
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