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ARTICLE · 05 OCTOBER 2022

RBA CBDC pilot white paper

Piper Alderman
Piper Alderman
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Piper Alderman

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Latest legal, regulatory and project updates in blockchain and digital law.

AustraliaTechnology

Michael Bacina and Jordan Markezic of the Piper Alderman Blockchain Group bring you the latest legal, regulatory and project updates in Blockchain and Digital Law.

RBA CBDC pilot white paper

The Reserve Bank of Australia (RBA), in conjunction with the Digital Finance Cooperative Research Centre (DFCRC) released its white paper into the CBDC pilot project this week. The project commenced in July 2022 and is at this stage expected to be completed around mid-2023.

Ellis Connoly, the Head of the RBA's Payments Policy Department, said of the pilot program:

[the RBA] sees potential for well-designed, well-regulated stablecoins to make a contribution to providing better services for Australian households and businesses... [it's] really important that we get the regulation of this right.

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