Jamaica’s Central Bank Says Court Order Required to Track CBDC Transactions

in #news3 years ago

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While customer transaction data may be public to wallet providers, the bank said the information could only be shared under court order.

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The Bank of Jamaica (BOJ), the country’s central bank, has said customer protections prevent the ability to trace digital dollar transactions despite the technology enabling the ability to do so.

In a report by the Jamaican Observer on Wednesday, the bank said that while customer’s personal information and transactions can be monitored when using its version of a central bank digital currency (CBDC) it would require further legal hurdles to do so.

“This information is not shared with the Bank of Jamaica and any other authority due to customers’ confidentiality and data protection,” the bank said in the report. “This information can only be shared under a court order.”
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