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Bahamas to regulate banks to offer cbank digital currency



The Bahamas, the first country in the world to issue a central bank digital currency (CBDC), is now preparing regulations that will require commercial banks to provide access to the e-money in a bid to stimulate adoption.

John Rolle, the islands’ central bank governor, who oversaw the Sand Dollar’s launch nearly four years ago, said with take-up still limited, carrot was turning into stick and commercial banks were now being told of regulations that will effectively force them to distribute it.

“We’ve begun to signal that to our institutions. We foresee a process where all of the commercial banks will eventually be in that space and they will be required to provide their clients with access to the central bank digital currency,” Rolle said.

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