Pandemic accelerates Bank of Canada's CBDC work

The Bank of Canada has accelerated work on a central bank digital currency (CBDC) in response to Covid-19 and its impact on cash usage, says a senior official who nevertheless cautions that a digital loonie is still not a "forgone conclusion". A year ago, deputy governor Timothy Lane stated that the central bank had no plans to issue its own digital currency at that time, but said this could change if cash usage dropped off significantly or private options such as bitcoin or the Facebook-backed
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