Norwegian Central Bank: No need to introduce a digital currency for now, CBDC project temporarily "suspended"

Odaily Planet Daily: After years of research, Norges Bank, the central bank of Norway, announced that there is currently no need to issue a Central Bank Digital Currency (CBDC), citing an “efficient and secure” domestic payment system and a sound emergency mechanism. Although Norway’s cash usage rate is among the lowest in the world, making digital currency discussions highly关注ed, the central bank believes the current system still meets demand. Norges Bank Governor Ida Wolden Bache stated, “If maintaining the efficiency and security of the payment system in the future requires it, we will be ready to introduce a CBDC.” She also emphasized that the central bank will continue to collaborate with the financial industry and other central banks, paying attention to the development of global CBDCs and digital currencies. In the Nordic region, the political stance towards digital currencies has always been cautious. Sweden, which was somewhat hesitant early on, still calls for restarting discussions on e-krona; the European Central Bank plans to initiate a digital euro pilot as early as 2027, with a potential official launch in 2029. Norges Bank plans to release a summary of its CBDC research and future plans in the first quarter of next year, indicating that it does not rule out the possibility of issuing a CBDC in the future and will continue researching tokenization and various forms of digital currencies. (Bloomberg)