Norway supports MiCA, considers CBDC for financial stability

Norway’s central bank, Norges Bank, has endorsed the European Union’s Markets in Crypto-Assets Authority (MiCA), as the country evaluates the possibility of adopting a central bank digital currency (CBDC). Kjetil Watne, project director of Norges Bank’s CBDC project, said Norway, as a member of the European Economic Area (EEA), welcomes MiCA’s framework. However, he noted that the bank is still considering “whether additional regulation is needed to promote financial stability.” Norges Bank has “not yet decided” whether to issue a CBDC and is evaluating how to “mitigate regulatory gaps associated with decentralized finance.” (Cointelegraph)