The Reserve Bank of New Zealand started a consultation on digital cash on Wednesday. The consultation paper asked citizens in the country to respond on digital cash design, whether or not interest should be paid and if there should be holding limits. The central bank is considering a $2000 holding limit, which is similar to the digital Euro’s benchmark. New Zealand started consulting on the future of money and CBDCs in 2021 and said then that a digital currency could present an “opportunity." The 2024 consultation said that digital cash would give more choice when making payments. The digital cash would be distributed by the private sector, and New Zealanders get to choose which services they use.
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