Kenya’s central bank does not consider the issuance of a digital currency a “compelling priority” but it will continue monitoring developments in the area to help future decisions on issuance, it said on Friday.
The bank invited views from the public on the potential introduction of a central bank digital currency (CBDC) in February last year, in a shift from its original opposition to crypto assets, but it has decided not to issue any.
“On the global stage, the allure of CBDCs is fading,” the bank said in a statement. “Implementation of a CBDC in Kenya may not be a compelling priority in the short to medium term.”
Read More : Kenya Central Bank Deems Digital Currency Not a ‘Compelling Priority’