The provided is from a detailed article exploring the concept of Central Bank Digital Currencies (CBDCs), specifically focusing on their potential implementation in Nepal. The article first defines CBDCs and explains their key principles and features, drawing comparisons with cryptocurrencies. It then discusses the advantages of CBDCs, including their ability to enhance financial stability, promote inclusion, and facilitate effective monetary policy implementation. The article also examines the challenges of implementing CBDCs, such as technological readiness, cybersecurity concerns, and regulatory framework development. Finally, the article discusses Nepal’s perspective on CBDCs, outlining the country’s policy goals and phased implementation plan.

Reference Document Link (PDF Page 31 to 36)