Taiwanese Central Bank Governor Yang Chin-long stated that the development of digital currency (CBDC) is not an international competition, and being the first to launch does not guarantee success. He disclosed that the Central Bank of the Republic of China (Taiwan) will conduct three scenario tests for the digital New Taiwan Dollar. Despite no current schedule for issuing CBDC, the bank is persistently enhancing the processing efficiency and innovative applications of the payment system. Yang emphasized that the promotion of CBDC is a long-term project, and the bank will steadily ensure that the future digital transformation of currency will contribute to the development of the country’s digital economy and digital finance.

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