High-Level Summary Technical Assistance Reports

Dominican Republic: Assessing the Implications of a retail Central Bank Digital Currency (Phase 1 and 2)

Author/Editor:

Anca Paduraru ; Marco Gross ; Paavo A Miettinen ; Karl Driessen ; Chacon Rey ; Maria Fernanda ; Kristel Poh ; Stephanie Forte ; Victor Budau

Publication Date:

August 28, 2024

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

The mission helped the BCRD to assess a CBDC's potential macro-financial, legal, and financial integrity implications, and shared lessons from other countries' CBDC and digital money projects, technology considerations, practices for stakeholder engagement, and how CBDC can increase financial inclusion, among others. The mission advised the BCRD to continue the exploration of macro-financial implications of a CBDC, conduct the legal framework revisions should a positive decision of CBDC be taken, assess risks to financial integrity once a firmer design choice is made, and build up technology knowledge and capacity meanwhile.

Series:

High Level Summary Technical Assistance Report No. 2024/031

Subject:

Central Bank digital currencies Technology

Frequency:

Regular