Central Bank of Brazil postponed the launch of digital real for two to three years – Bits Media

Central Bank of Brazil postponed the launch of the state cryptocurrency for two to three years. Earlier, the Central Bank announced, what digital real will release next year.

According to Brazil Bank, The regulator will take more time to issue a state cryptocurrencies. The timing of the issue of digital Real depends on the development of current projects of the Central Bank and the steps of other countries in this area.

“On the current assessment of the Central Bank of Brazil, The conditions for the release of state cryptocurrency will be reached in two to three years ", – declares the Central Bank.

Comments are contrasting with previous statements, made by the President of the Central Bank of the country Roberto Campos Neto (ROBERTO CAMPOS NETO), who said, that the country can be ready to switch to digital currency next year. The Central Bank of Brazil began
Study the possibility of issuing state cryptocurrencies last summer, and in April this year stated, which has reached significant progress in the development.

“The launch of Brazil’s state cryptocurrency can provide new tools to stimulate innovation and competition in the digital economy, reduce the use of cash and, hence, The cost of their maintenance, improve the processes of cross -border payments, stop illegal activities and improve access to the financial service ", – The Central Bank of Brazil said.

The regulator also said, that "actively" participates in international discussions, concerning global standards for national cryptocurrencies, and that the next step will be an assessment of their influence on the economy of Brazil.

“After the establishment of general directives regarding the desired characteristics of the digital real, Open discussion with interested parties will open use options and improve our understanding of the potential of state cryptocurrency in a particular case of the Brazilian economy ”.

According to the plans of the bank, The digital real will work in parallel with cash and bank deposits.