The Central Bank Of Brazil, the highest monetary authority of the country, has released a note listing the general guidelines for the design of a hypothetical central bank digital currency (CBDC) for the country. While there are still no concrete steps taken in this direction, at least the document recognizes there have been discussions about this possibility in the institution.
Central Bank of Brazil Issues General CBDC Guidelines
The Central Bank of Brazil, the economic authority of the South American country, has released a document where it specifies the general guidelines of a future Brazilian central bank digital currency (CBDC). The note, titled “Banco Central do Brasil releases general guideline for a Brazilian CBDC,” details the characteristics and traits that a hypothetical CBDC emitted by the institution will have in the future.
Among the characteristics detailed in the document, apart from mentioning its use as a money substitute, its compliance with AML and anti-terrorism regulations, and also its issuance