In the National Budget Speech last Thursday, Bangladesh’s Minister of Finance Mustafa Kamal announced that the Bangladesh Bank will be conducting a feasibility study for introducing Central Bank Digital Currency (CBDC) in the country.
While he didn’t explicitly state cryptocurrencies were a motivation, Kamal said other central banks are “working to launch digital versions of their currencies as an alternative to Crypto Currencies.” This is consistent with a recent Bank for International Settlements survey which found that 60% of central banks said crypto had spurred CBDC activity, with 90% of central banks now engaging in CBDC work.
Meanwhile, Chainalysis research has ranked Bangladesh in the top 30 countries for cryptocurrency adoption.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
