Bank Mexico Changed the Launch Date of CBDC
Mexico Management Bank Victoria Rodriguez Schah said that the launch of the National Digital Currency (CBDC) is postponed from 2024 to 2025.
According to her, the launch of CBDC will expand access to existing financial and payment instruments, and will also help implement functions like automation and programmability mechanisms. In addition, the regulator attaches special attention to the regulation of cryptocurrency in order to protect citizens.
In June 2021, the Central Bank of Mexico, the Ministry of Finance and the National Commission for Banks and Securities declared the absence of digital assets of the payment product status, as well as warned of sanctions for the use of Bitcoin.
SHEH noted that digital pesos (CBDC) will not replace the traditional currency, but it can become a “strategic alternative to current payment means.”
Earlier, the financial leaders of the countries of the Great Seven, which includes Canada, France, Germany, Italy, Japan, the United Kingdom and the United States, approved 13 principles of state policy regarding the implementation of digital currencies of central banks (CBDC).