The special team that is set up by Governor of the Bank of Israel Karnit Flug, finds that a central bank digital currency is not currently relevant for Israel, according to the report of local news media Globes.
The team was initially established in November 2017 in order to study the subject of central bank digital currency (CBDC) and decide whether it matches with current regulation or not.
As it was earlier reported, The Finance Ministry and Bank of Israel were considering issuing a digital currency called digital shekel that would record every transaction by mobile phone and make it more difficult to evade taxation.
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