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Australian Pilot CBDC to Be Finalized by 2023

2022.09.27

The Reserve Bank of Australia (RBA) anticipates finalizing the pilot of the Australian central bank digital currency, by the end of 2023, crypto media channel CoinDesk reported on September 27.

 

According to a media channel, the pilot's goal is to "examine creative use cases" that may be facilitated by the issuing of a CBDC. The study was reported to be looking into regulatory aspects related to a CBDC in the white paper, a document created by the bank that may eventually be used to advise future regulations.

 

The report was released after Australian opposition leader Andrew Bragg criticized the present administration, which is headed by Prime Minister Anthony Albanese, for its "inaction" on cryptocurrency. Meanwhile, the Albanian administration declared it would adopt "token mapping" as a foundation for legislation. Additionally, the whitepaper discloses the name of Australia's pilot currency as eAUD.

 

Notably, India and Hong Kong announced that it completed policy grounds and consultations for the introduction of national CBDCs. Thus, India anticipates completing the CBDC by the end of March 2023, while HKMA will complete this process within two years.

 

Source: COINDESK

Fee policy for withdrawal of virtual assets

The following fees are charged when withdrawing virtual assets from Delio Bank.

Virtual asset type Transmission fee (Gas fee) Withdrawal fee
Bitcoin (BTC) Charged according to network conditions 2,000 won worth of Bitcoin
Ethereum (ETH) Charged according to network conditions 2,000 won worth of Ethereum
Ripple (XRP) Charged according to network conditions 1 XRP

· There is no fee for transfers within Delio Bank.

· No withdrawal fee is charged for virtual assets other than Bitcoin, Ethereum, and Ripple.

· Please check the transfer fee for virtual assets other than Bitcoin, Ethereum, and Ripple when withdrawing.