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In their submission to the Select Committee on Financial Technology and Regulatory Technology, the Reserve Bank of Australia (RBA), has expressed doubts whether cryptocurrencies in their current form -such as Libra and central bank digital currencies (CBDCs) -will become viable solutions in Australia, or replace government issued money. The RBA added that since Australia is served by a range of low-cost and efficient real-time payment methods, the demand for cryptocurrencies does not seem likely.
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