Australia: Opened consultation on White Paper on CBDC project

On 26 September 2022, the Reserve Bank of Australia and the Digital Finance Cooperative Research Centre (DFCRC) released a White Paper called "Australian CBDC Pilot for Digital Finance Innovation" outlining the objectives of their joint project. The Reserve Bank and the Digital Finance Cooperative will study the risks and benefits of introducing a central bank digital currency (CBDC). The White Paper includes a design of the pilot CBDC and invites expressions of interest from industry participants on the use and operation of CBDC. The stakeholders are invited to submit their comments until 31 October 2022. The Reserve Bank noted that will announce the selected cases on December 2022, and the research project results are expected to be published around the middle of 2023.