Israel’s Central Bank ‘Not Recommended’ to Issue Own Digital Currency

A dedicated focus group says that Israel’s central bank should “continue examining the field” prior to making a firm commitment in releasing a digital currency.

An Israeli study group exploring digital currency options has recommended that the country’s central bank not issue its own token, a press release confirmed Nov. 6.

The interdepartmental team, set up in November 2017 by the governor of the Bank of Israel to “examine the issue of central bank digital currencies [CBDCs],” revealed its findings in a full report this week.

“Central banks around the world are examining the possibility of issuing digital currency and/or using distributed technologies in the payment systems, but no advanced economy has yet issued digital currency for broad use,” it summarizes, adding:

“The team does not recommend that the Bank of Israel issue digital currency in the near future. It is necessary to continue…

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2018-11-07 12:12:00

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