The Reserve Bank of Australia has promised to issue its own token in test mode by mid-2023. The central bank digital currency (CBDC) will be pegged to the Australian dollar, which will complement fiat money.
The central bank has outlined its position in a document published at the beginning of this week. This is a kind of concept of the Australian authorities, which will form the basis of the country’s legislation to regulate transactions with CBDC.
In addition, the report of the Reserve Bank was devoted to general issues of digitalization of the state’s payment infrastructure. Until the middle of next year, the regulator plans to test the token and prepare the technological and regulatory framework for CBDC.
