The Central Bank of the Philippines considers issuing central bank digital currency

Benjamin Diokno, Governor of the Central Bank of the Philippines, said that the bank has set up a committee to study the feasibility and policy implications of issuing central bank digital currencies. He said that the team’s findings must be reviewed before making a decision. The preliminary findings are expected to be announced next month. However, he said that he has not seen the development of digital currency affect the demand for legal tender. Cryptocurrency has always not only belonged to the asset itself, but also relied more on the blockchain technology that supports it.