Jamaica's Central Bank: Court Order Needed to Track CBDC
Main page News, Central Banks, CBDC, Regulations

The Bank of Jamaica (BOJ) says a court order is needed in order to start tracing the turnover of CBDC (central bank digital currency). According to the Jamaica Observer, the central bank faces limitations in supervision as customers' data is protected by the local law.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

"This information [users' transactions] can only be shared under a court order. Bank of Jamaica will only capture general data for economic analysis," a spokesperson for the BOJ told the Jamaica Observer.

Fed's Brainard Sees Sustainable Future in CBDC

The bank's comments follow the minting of Jamaica's first batch of CBDC. As iHodl recently reported, the bank wants to issue a total of $1.4 million in CBDC to deposit-taking institutions and authorized payment service providers during the CBDC pilot exercise which ends in December.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

Read also:
Please describe the error