Bank of Israel Reveals Conditions for Launching a CBDC

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The Central Bank of Israel has outlined the main conditions for the potential launch of a national digital currency, known as SHAKED.

This includes the decision of the United States, the EU, or a significant number of other countries to issue their own CBDCs, as well as a decrease in the popularity of cash due to the rising adoption of payment applications and electronic means.

The Bank of Israel acknowledged that a shekel-free stablecoin could reduce cash circulation, but noted that there are currently no signs of widespread adoption of such coins.

Nonetheless, they allow for a rapid change in payment habits in society. The Bank of Israel has yet to make a final decision on the launch of a CBDC.