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Bahamas Proposes Mandatory Bank Support for Sand Dollar Digital Currency

The Bahamas made history in 2020 by becoming one of the first countries to introduce a central bank digital currency (CBDC) – the Sand Dollar. Now, the island nation is taking further steps to increase the usage and acceptance of this innovative form of currency. The government is considering implementing a new mandate that would require banks to support and facilitate transactions using the Sand Dollar. This move could have significant implications for the future of digital currencies and the financial landscape of the Bahamas.