No immediate plans to issue central bank digital currency, says Bank Negara | Malay Mail

Wednesday, 31 Mar 2021 10:59 AM MYT

“To this end, the existing monetary and financial policy tools have remained effective in safeguarding monetary and financial stability. Most digital assets, in their current form, are not used as payment instruments primarily because they do not exhibit the universal characteristics of money, it said.

It said it is noteworthy that new forms of digital assets such as Stablecoin have also started to emerge, which seeks to minimise volatility in their value by linking or backing it with assets such as fiat currency. CBDC issuance, BNM said, should complement existing payment instruments including physical cash to ensure that all Malaysians, in particular the underserved communities, have continued access to safe and efficient payment solutions.

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