CandleFocus Norway’s financial task force urges cautious approach to CBDC: report
2024-11-15
Author: Content Editor
A task force in Norway has advised against the immediate adoption of a central bank digital currency (CBDC). The task force recommended that policymakers focus on developing the necessary regulatory framework for a potential future rollout instead. While acknowledging the potential benefits of a CBDC for accessible and secure payments, the report emphasized that cash remains critical in Norway. The country is one of the most cashless societies in Europe, with just 2% of respondents using cash for their most recent in-person transaction. Similar findings were reported in Sweden, where a government inquiry concluded that there is no immediate need for an e-krona. Norges Bank, the central bank of Norway, is expected to provide its own recommendation on whether to adopt a CBDC by 2025.
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