Several countries are progressing with plans to implement a…

Several countries are progressing with plans to implement a Central Bank Digital Currency (CBDC) including China, the United Arab Emirates, Thailand, and the Bahamas. Japan, Canada, the European Union, and Switzerland are also reportedly looking into CBDCs.

Yes, Australia is also progressing with a Central Bank Digital Currency. In 2021, the Reserve Bank of Australia announced that it was exploring a potential CBDC, dubbed the Australian Central Bank Digital Currency (ACBC). The RBA has since conducted two national consultations on the topic and continues to study the potential benefits and risks associated with the ACBC.