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BB wants study before issuing digital currency

MNA Business Desk: Bangladesh Bank (BB) deputy governor SK Sur Chowdhury on Saturday said the matter of the issuance of crypto-currency by the central bank in the country still needs lots of study as it has both good and bad sides.

The deputy governor said central bank’s issuing cryptocurrency is still in the stage of study and observation. He, however, added that, ‘We are seriously thinking on it.’

Cryptocurrency is a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.

Lots of research, technological supports are needed in this regard, said Sur adding that with the outputs of the studies ‘We will decide in the policy level of central bank whether now we will move for the cryptocurrency or not.’

The deputy governor came up with the remarks while addressing a discussion titled ‘The prospect and challenges of digital currency in Bangladesh’ marking the biggest ICT exposition in the city.

SK Sur Chowdhury said they are not against the use of any technology but they are in favour of ensuring the betterment of people.

Presenting keynote at the discussion, SureCash CEO Shahadat Khan said digital currency can play a great role in fulfilling the vision of digital Bangladesh as world is moving on cashless economy.

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