Chile is still considering whether to move forward with a central bank digital currency (CBDC), in spite of previously disclosed plans to have a proposal ready by early this year.
In a preliminary report issued on May 11, Chile’s central bank said it needs more time to make a decision about whether to issue a CBDC. Reuters reported last September that it had planned to reach such a determination around the beginning of this year.
„The bank considers that there is still not enough information to make a final decision with respect to the issuance of a CBDC,” the central bank wrote in the report’s Spanish-language executive summary. „However, considering its high potential, and that international experience shows that it is a process that may require years of study and testing, it is considered appropriate to continue with activities oriented toward the future implementation of this new form of money.”
The first stage of the process consists of collecting information from the parti
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