Norway's central bank concludes CBDC is not currently needed

Norway's central bank has concluded that a central bank digital currency (CBDC) is not necessary at present, Cointelegraph reported. The bank explained that there is no compelling reason to introduce a CBDC in the near future because the country's existing payment system is already secure, efficient, and low-cost. It also noted that while a wholesale CBDC could potentially modernize interbank payments, this has not yet been proven, and the necessary infrastructure and standards for immediate deployment are not in place.