The Bank of Canada is winding down its research and development work on a retail CBDC

BlockBeats news, on September 21, according to the latest news on the website of the Bank of Canada (BOC), the bank is gradually ending its research and development work on retail central bank digital currency. The announcement did not mention wholesale CBDC, but emphasized that its research is still continuing.

The Bank of Canada has conducted extensive research on CBDC and is now shifting its focus from CBDC research to other more pressing issues. The Bank of Canada's position on CBDC is that it needs to develop a "contingency plan" just in case. The current shift in focus comes as the bank prepares to assume new responsibilities.

The Bank of Canada said: "As other payment issues become increasingly prominent, the bank is scaling back its work on retail central bank digital currency and shifting its focus to broader payment system research and policy making."