Consequent on the legislation’s passage, the way has been paved for the BOJ to proceed with the national rollout of the CBDC. The pilot was undertaken between August and December 2021.
Minister of Foreign Affairs and Foreign Trade and Leader of Government Business in the Upper House, Senator the Hon. Kamina Johnson Smith, piloted the Bill during the Senate’s sitting. She noted that full CBDC implementation is expected to significantly reduce traditional challenges associated with many Jamaicans not having a bank account.
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