Public consultation on the Bank of Canada's digital currency (CBDC) plan shows that Canadians overall have a negative sentiment, confirming the central bank's concerns about its adoption nationwide. In a survey of 89,423 respondents, nearly 95% had heard of or were familiar with the concept of a digital Canadian dollar. While awareness is a key factor in widespread adoption, this metric does not apply to Canada. 93% of respondents primarily use paper cash for daily transactions, but also use credit and debit cards as well as other online payment methods. In addition, only 15% of respondents hold Bitcoin and other cryptocurrencies. Most respondents suggest that the Bank of Canada should stop researching and developing the ability to issue a digital Canadian dollar. However, the public believes that the CBDC initiative will not consider their feedback.

Ravi Menon, the managing director of the Monetary Authority of Singapore (MAS), has stated that cryptocurrencies have failed as a medium of exchange or store of value and will eventually leave the scene. Menon believes that the future monetary system will consist of central bank digital currencies (CBDCs), tokenized bank liabilities, and regulated stablecoins. MAS has invested in the development of a regulatory framework for stablecoins, but the legislative amendments for the stablecoin regulatory framework will not be ready for at least a year.

Cecilia Skingsley, head of the Innovation Center at the Bank for International Settlements (BIS), stated that central banks around the world are not interested in personal data. This statement seems to be aimed at alleviating privacy concerns surrounding CBDCs, as the central bank group has been pushing governments around the world to continue their work on CBDCs in preparation for the future of payments. However, major jurisdictions such as the United States and the European Union are facing increasing criticism over their plans to issue CBDCs, with a major issue being whether and how citizens' privacy will be protected. Skingsley urged the public to remain open to technological innovation, and she believes that wholesale CBDCs are another form of currency used only between banks, which could become a "game changer" for cross-border payments, citing BIS Innovation Center projects such as Jura, Dunbar, and mBridge as examples.

According to a report from Jinse Finance, Ravi Menon, the Managing Director of the Monetary Authority of Singapore (MAS), also known as the Singapore Central Bank, stated at the "Future of Monetary Systems" panel discussion at the Hong Kong Monetary Authority-International Bank for Settlements event that the future monetary system will consist of three key components: central bank digital currencies, tokenized bank liabilities, and "well-regulated" stablecoins. Private digital currencies "fail the currency test because they are not a store of value". No one puts their life savings into these things. People buy and sell these things to make a quick buck. Private cryptocurrencies, as native digital tokens, do not pass this test, so I think they will eventually exit the stage.

 Ricardo Bonilla, the finance minister of Colombia, stated that a government working group is developing a bill to launch and regulate CBDC. However, the digital currency will still be controlled by the central bank.

At the CBDC and Future Currency System Seminar held in Seoul, Agustín Carstens, the head of the Bank for International Settlements (BIS), mentioned the importance of tokenization as a key technology for building an interconnected financial system using CBDC. Carstens explained how tokenization will modernize the current isolated financial system: "Tokenization is a method of recording currency and assets in digital form on a programmable ledger. In fact, this means that users can transfer assets directly through programming commands, rather than through intermediaries such as customer managers who act on behalf of users." For Carstens, the tokenization of currency and other assets and their integration on a "unified ledger" will help develop the current financial system, allowing for the implementation of a two-tiered monetary system consisting of wholesale tokenized CBDC and tokenized deposits in several countries. (Bitcoin.com)

Moscow will give Russian law enforcement more new powers to seize digital rubles (CBDC) and cryptocurrency assets in bankruptcy cases. The plan was proposed by the Ministry of Justice and the Federal Bailiff Service (FSSP) of the Russian Federation. A spokesperson for the Ministry of Justice stated that law enforcement will be able to exercise "redemption rights" against holders of digital rubles, digital currencies, and digital financial assets.

On November 23, the Bank of Korea (BOK) announced that as part of a central bank digital currency (CBDC) pilot, it will invite 100,000 South Korean citizens to use deposit tokens to purchase goods. The test will begin in "September to October" 2024 and will last for three months.<br>Participants will only be able to use CBDC for payments and cannot choose to store, exchange, or send to other users. The goal of the pilot phase is to evaluate the feasibility and effectiveness of currency issuance and distribution.<br>The Bank of Korea will also collaborate with South Korean exchanges to integrate CBDC into a carbon emissions trading simulation system to test the feasibility of delivery and payment transactions.

The National Bank of Cambodia (NBC) has signed a memorandum of understanding (MoU) with Alipay to allow users of its digital currency, bakong, to access the Alipay merchant network and conduct cross-border transactions using QR codes. Bakong is not a central bank digital currency (CBDC), but operates on a blockchain and is a liability of the commercial banks that use it. The MoU will enable Cambodians to use their bakong wallets to shop with 83 million merchants worldwide on the Alipay network, while Chinese tourists with Alipay accounts can use the QR codes of the bakong KHQR system to shop in Cambodia. The bakong payment system was launched in 2020 and has already been used for 35.4 million transactions worth $12 billion in the first half of 2023.

A report from the Bank for International Settlements (BIS) found that privacy should be considered a key component of CBDC design. The BIS report surveyed 3,500 people to understand how the use of CBDC as a payment method would vary based on privacy levels, and found that privacy increased participants' willingness to use CBDC by 60% when purchasing privacy-sensitive products.