The number of countries wishing to issue their token (CBDC) continues to grow.
The concept of CBDC, developed by central banks, is supported by many representatives of the crypto business. For example, the CEO of the Binance exchange, Changpeng Zhao, said that regulated digital currencies are going to inevitably become part of the global financial system.
Now the Central Bank of Nepal is considering whether to issue a token pegged to the national currency.
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According to the head of the Department of the Monetary Authority, Rewati Prasad, the regulator decided to do research work. A special group was created at the Central Bank, which will develop a scenario for the creation and implementation of a token. The CBDC concept should be formed by the end of 2022.
Nepal is closely watching India and China, which are already working on issuing digital versions of their currency. The Central Bank of Nepal may go for the creation of a token that can become an alternative to conventional cryptocurrencies, investments in which are growing rapidly in the country.
So far, the decision to create a CBDC has not been made, but the regulator promises to make public its position on this issue soon.