Bermuda is in the research phase of its central bank digital currency (CBDC) development. Bermudian premier David Burt said that the risks of CBDCs outweigh the benefits.
CBDC History and Development
In 2019,
Bermudian premier David Burt said, “For Bermuda, the risks of launching our own digital currency outweigh the opportunity.” At the same time, he announced that the government would start accepting stablecoins for the payment of taxes.
Human Rights and Civil Liberties Concerns
For additional information on concerns regarding violations of human rights and civil liberties, see the following reports by
Amnesty International,
Financial Tyranny Index,
Freedom House,
Human Rights Watch,
Privacy International, and the
U.S. Department of State. For additional information on concerns regarding the risks of CBDCs, see the following webpage and report by the Cato Institute:
The Risks of CBDCs and
Central Bank Digital Currency: Assessing the Risks and Dispelling the Myths.
For additional information regarding metrics, the methodology page explains each of the data points and provides their respective sources.