The Central Bank of Egypt(CBE) in its 2021 Financial stability report announced that it is studying the implications of the Central Bank Digital Currencies (CBDC). This initiative is a response to the growing prevalence and trading of cryptocurrencies within the country. To delve into this matter, a steering committee comprising internal and external stakeholders, including representatives from relevant ministries and national authorities, was established. The CBE has taken the lead in overseeing this committee’s work, in collaboration with various international institutions. Although progress has been made in studying the project, the outcomes have not yet been disclosed to the general public.
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