{"id":132866,"date":"2024-07-11T11:30:12","date_gmt":"2024-07-11T08:30:12","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=132866"},"modified":"2024-07-11T02:22:04","modified_gmt":"2024-07-10T23:22:04","slug":"israel-delays-cbdc-launch-pending-eu-decision-on-digital-euro","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/israel-delays-cbdc-launch-pending-eu-decision-on-digital-euro\/","title":{"rendered":"Israel Delays CBDC Launch Pending EU Decision on Digital Euro"},"content":{"rendered":"<p>Deputy Governor Andrew Abir explained that Israel is awaiting the European Central Bank\u2019s decision, which could pave the way for CBDC adoption globally.<\/p>\n<p>Abir emphasized that Israel\u2019s <strong><a href=\"https:\/\/x.com\/Jerusalem_Post\/status\/1811001610484478252?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1811001610484478252%7Ctwgr%5Ef3a1b9393218434f006e6a39b56c89e0e57fff21%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.cryptopolitan.com%2Fisraels-central-bank-to-hold-off-cbdc%2F\" rel=\"nofollow\">decision<\/a> <\/strong>hinges on the actions of Western central banks, particularly the ECB, which is expected to be the first mover in this regard. He noted that many countries, including Israel, are monitoring the ECB\u2019s progress on the digital Euro before proceeding with their own CBDC initiatives.<\/p>\n<p>Regarding public adoption, Abir acknowledged the challenge of moving from theoretical use cases to actual adoption by citizens. He stressed the importance of establishing robust use cases before launching a CBDC to ensure widespread acceptance.<\/p>\n<p><div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1\">Read More:<\/h5>\n    <a class=\"article row post-132784\" href=\"\" title=\"\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img class=\"image img-defer\" src=\"\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\"><\/h4>\n        <\/div>\n    <\/a>\n<\/div>\n<\/p>\n<p>In May 2024, approximately 134 countries reportedly expressed interest in CBDCs. Last year, the European Union introduced legislation for a digital currency, though it clarified that this did not commit to launching one.<\/p>\n<p>Earlier in May, the Bank of Israel initiated a \u201cDigital Shekel Challenge\u201d to explore the adoption of a CBDC. This initiative invited applications from various sectors to test the digital currency\u2019s core system and API layer, aiming to pave the way for future CBDC adoption in payments.<\/p>\n<p>Abir highlighted that the CBDC could foster fair competition among payment providers by offering equal opportunities compared to traditional systems, with lower capital requirements and supervision.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Israel&#8217;s central bank has postponed its plans to launch a CBDC until the European Union clarifies its stance on the digital Euro.<\/p>\n","protected":false},"author":3,"featured_media":39586,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[28,22],"tags":[301],"coin_category":[],"class_list":["post-132866","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fintech","category-others","tag-central-banks"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Israel Delays CBDC Launch Pending EU Decision on Digital Euro<\/title>\n<meta name=\"description\" content=\"Israel&#039;s central bank has postponed its plans to launch a CBDC until the European Union clarifies its stance on the digital Euro.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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