Chile's central bank says it needs more time to study CBDCs

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Chile's central bank says it needs more time to study CBDCs
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'The bank considers that there is still not enough information to make a final decision with respect to the issuance of a CBDC,' it said.

that it had planned to reach such a determination around the beginning of this year.

The first stage of the process consists of collecting information from the parties interested in the CBDC process, the central bank said, and"exploring alternatives" for developing pilot projects or tests that can help it understand the challenges of creating a CBDC. According to the central bank,"there are still no clear international standards" regarding CBDCs. Because a CBDC's success as a payment method will depend on how much the public uses it, the bank will first engage with public and private entities that may wish to be involved.

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