Central Bank: No Urgency for Retail Digital New Taiwan Dollar, Issuance Requires Legal Amendment or Special Law

AI Summary (NQ-processed)

Taiwan's Central Bank released a research report on Central Bank Digital Currency (CBDC), concluding there is no urgency to issue a retail digital New Taiwan Dollar due to the convenience of existing payment systems. However, if issued in the future, it would require amendments to the Central Bank Act or the enactment of a special law. The Central Bank is building a digital cash flow platform to verify technology feasibility and capacity, initially supporting digital voucher payments. For wholesale CBDC, a trial platform is being built to facilitate interbank token transfers and asset clearing.