Taiwan central bank says no timetable for launching digital currency

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TAIPEI : Taiwan's central bank said on Sunday that it has no timetable for launching a digital currency, warning the process will be "huge and complex", but it will hold public hearings on the matter next year to spread knowledge.

A teller counts New Taiwan dollar $1000 banknotes at a bank in Taipei, Taiwan February 23, 2017. REUTERS/Tyrone Siu/File PhotoTAIPEI : Taiwan's central bank said on Sunday that it has no timetable for launching a digital currency, warning the process will be"huge and complex", but it will hold public hearings on the matter next year to spread knowledge.

"Although the bank currently has no timetable for issuing central bank digital currency, in the process of continuous research and experimentation it is already improving the processing efficiency and innovative application of the payment system," it said in a report to parliament. "The promotion of central bank digital currency is a huge and complex project that will need to be carried out for a long time," it added.

 

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