The Bank of Uganda (BOU) has commenced a study that explores the feasibility of issuing a digital currency. However, an executive with the institution warned that the central bank needed to be clear why it must have this in the first place.
Faster Movement of Money
The Ugandan central bank is reported to have commenced studying the feasibility of issuing a CBDC that will be used by households and businesses. In addition, the BOU is reportedly planning to revise the country’s financial laws. The move enables the BOU to formally adopt the CBDC.
This central bank’s decision, according to a report, is supported by proponents of CBDCs who insist that such a digital currency would enable Ugandans to move money cheaply and at a much faster pace.
Nevertheless, the bank’s executive director for operations, Charles Abuka, cautioned during a recent interview that the BOU needs to be clear about why it wants to launch the CBDC in the first place. He said:
First, is to establish properly wha
We współpracy z: https://news.bitcoin.com/bank-of-uganda-reportedly-commences-cbdc-study/
