The South American country of Chile announced that it is suspending its digital central bank currency (CBDC) plans until the end of 2022 in order to conduct further analysis.
According to a report by the Central Bank of Chile on May 11, the issuance of the digital Chilean peso advantages and disadvantages CBDC plans for further analysis. postponed until the end of the year.
The central bank said in a statement that a CBDC to be issued later, even though the payment systems are working. He said he would investigate whether it would increase the risk.
After the Central Bank of Chile, with the CBDC to be issued, the use of digital money in the country became widespread financial stability will deteriorate. It is believed that he delayed it out of concern.
According to information from data platform Statista, Chilean citizens 14% own cryptocurrencies and with the most cryptocurrencies in 2021 18th country position exists.
The replacement of stablecoins, which has been discussed frequently in recent days, is thought to be something that many investors would like to replace. on February 9 Speaking at the event hosted by the Atlantic Council, IMF Managing Director Kristalina Georgieva said that well-designed CBDCs could potentially be replaced by stabecoins. can offer greater flexibility, security, usability and lower cost. had said.