The Norwegian central bank has shelved its central bank digital currency plan.

The Central Bank of Norway believes there is currently no need to introduce a central bank digital currency (CBDC). The bank has been studying the necessity and form of issuance for several years, and this conclusion marks the end of that study. On Wednesday, the Central Bank of Norway stated that its domestic payment system is "efficient and secure" and its contingency plans are "reliable." Governor Ida Wolden Bache stated that if the introduction of a CBDC is necessary to maintain an efficient and secure payment system, the bank will be prepared and looks forward to cooperating with the financial industry and other central banks. The Central Bank of Norway also stated that it will release a CBDC research report and subsequent work plan in the first quarter of next year, not ruling out the possibility of future issuance, and will continue to study digital currency forms such as tokenization and monitor international developments.