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Bahamas: NOT FOR HOARDING: Sand Dollar will not function like cryptocurrency, says Central Bank governor

NASSAU, BAHAMAS — The Central Bank’s Sand Dollar should not be viewed as something that will function like crypto assets, according to Central Bank Governor John Rolle.

Rolle, who appeared as a guest on the International Monetary Fund’s (IMF) series The Exchange along with IMF Managing Director Kristalina Georgieva, stressed the need to ensure this country’s payment systems operate more efficiently.

“We are addressing unbanked and underbanked. We are trying to improve access to services,” Rolle noted.

“In the central banking space. the focus is on enhancing the efficiency of the payment system.

“We’re not in the business of trying to provide something that looks and feels like cryptocurrency. The whole effort is to try and dissuade persons from looking at the Central Bank digital currency as something they should hoard.

“We want to maintain the role and link with the banking system for the traditional use and how they create savings. It is very important that we do not view fiat digital currency as something that is going to function and behave like crypto assets. That’s not the focus.”

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