The Bahamas Central Bank Digital Currency Will Be Rolled Out in October

The Bahamas will be ready to roll out working CBDC by next month, and while it will not have quite the same implications as a Digital Yuan or Digital Dollar for the global economy—the Sands Dollars will be the first state-backed virtual currency.

The CBDC or Sands Dollars will fall under the same regulation as the Bahama dollar, and as such will be subject to the same anti-money laundering (AML) and know-your-customer (KYC) standards.

Read more: Blockchain News