The Bahamas is preparing to introduce legislation requiring commercial banks to support its CBDC

ChainCatcher news, according to Reuters, the Bahamas is preparing to introduce legislation requiring commercial banks to support its central bank digital currency "Sand Dollar" to promote its adoption. The Governor of the Central Bank of the Bahamas, John Rolle, stated that CBDC regulations should be implemented within the next two years, and it is expected that all commercial banks will eventually enter this field and will be required to provide their customers with access to the central bank digital currency.

The Central Bank of the Bahamas launched the CBDC "Sand Dollar" in 2020, and its CBDC currently accounts for less than 1% of the currency in circulation in the Bahamas.