According to a recent announcement, the Central Bank of Jordan (CBJ) revealed that it’s currently looking into issuing a digital currency. If a central bank digital currency (CBDC) does get launched, it would not only be linked to the Jordanian dinar, but it would also have legal standing.
CBJ’s governor, Adel Al Sharkas, said that the financial institution is doing thorough research on the possibility of creating a legal digital currency. Once the proper legislation is proposed and imposed, he predicts that Jordan might accept crypto trading.
According to the report, the CBJ governor’s comments were stated during a meeting where attendees talked about digital currencies. His comments came after Jordan’s Lower House Economic and Investment Committee chairman Khair Abu Salik, who warned them against the risks and dangers involved in crypto trading. The meeting also reported had officials discussing the regulations needed to ensure that investors are safe and protected from such risks and dangers.
They also talked about the possibility of creating and launching a licensed crypto trading platform. The CBJ governor argues that Jordan decided to ban crypto trading to protect investors from deceitful crypto investments. He noted that five other countries, China included, also have similar bans.
Jordan is now one of the few countries that are beginning to dip its toes into the world of CBDC. According to Atlantic Council’s data, 91 nations have begun to create a sovereign digital currency as of June 2019. Fourteen of these countries have already reached the digital currency’s pilot phase. Meanwhile, nine nations have already launched a CBDC.
