The Bank of Jamaica (BOJ) has said that the regulatory framework already exists within the financial sector to allay concerns about the introduction of a central bank digital currency (CBDC) Director of the BOJ’s Payment System Policy & Development Department, Mario Griffiths, said the risks of using a digital currency will be mitigated by the existing regulatory framework. CBDC differs from cryptocurrency and is not meant to replace cash or other methods of payment instruments, Mr. Griffiths said.
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