The Bahamas was one of the first countries in the world to launch a central bank digital currency — the “Sand Dollar” in 2020 — and is now looking for ways to boost its adoption.
The Bahamas is preparing to introduce legislation requiring commercial banks to support its “Sand Dollar” central bank digital currency (CBDC) and hopefully boost its adoption.
In a June 2 report from Reuters, John Rolle — the governor of the Bahamas central bank — said that due to a less-than-ideal uptake of the CBDC thus far, commercial banks are now being told they will be legally required to distribute the digital money.dwindl
Rolle said the CBDC rules should be ready to be enforced sometime within the next two years.
