• New Zealand rejects CBDC
    Politics,  Regulation

    New Zealand rejects digital currency—for now

    No central bank digital currency for New Zealand, even though just 6% use cash for everyday needs

    Christian Hawkesby, the assistant governor of the Reserve Bank of New Zealand, told a conference on Oct. 19 that a central bank digital currency (CBDC) won’t be released imminently. However, he stressed the country is “well connected” on the matter and continues to monitor developments closely. In other words, New Zealand wants another country to jump in first.