BAKU, Azerbaijan, July 31. The Central Bank of Azerbaijan (CBA) has no plans to issue a digital currency, as it currently sees no prospects for its successful implementation, Governor of the Central Bank of Azerbaijan Taleh Kazimov said at a press conference, Trend reports.
“We are continuously monitoring this issue and studying the initiatives and outcomes of central banks in other countries.
Digital currency presents challenges related to operations and financial sector stability. At present, no central bank has successfully implemented a digital currency,” he noted.
Digital currency represents money that exists only in digital form, including cryptocurrencies like Bitcoin and Central Bank Digital Currencies (CBDCs), which are digital versions of a country’s fiat currency issued by central banks.
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