Another day, another central bank said it (conditionally) wants to issue a digital currency. This week it is the turn of the Philippines, whose central bank has created a committee that will examine the feasibility and policy implications of issuing a digital version of the fiat peso.
The committee will report its initial findings in August.
Per Bloomberg, the Governor, Benjamin Diokno said that they “have to first look at the findings of the group before making a decision.”
Crypto adoption has been on the rise in the country this year, with a number of new crypto exchanges winning operating licenses from the financial regulator this year. Fifteen exchanges have thus far been given government permits.
However, the governor stated,
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