Chile's Central Bank Postpones Its CBDC Plans

Chile's central bank has postponed its plans for CBDC, saying the issuance of a digital Chilean peso requires a more in-depth analysis of its benefits and risks and promising to issue a new report by the end of 2022. A report released by the bank on May 11 includes a preliminary assessment of Chile's CBDC and looks at the country's current payment system and the benefits, risks and principles of issuing a digital peso. The bank said that while the current payments system works well and is well adapted to recent challenges, "the CBDC will help achieve a competitive, innovative and integrated payments system that is inclusive, resilient and protects people's information."