Norway supports MiCA, considers CBDC for financial stability

Norway's central bank, Norges Bank, has recognized the European Union's regulatory agency for crypto assets (MiCA), and the country is evaluating the possibility of adopting a central bank digital currency (CBDC). Kjetil Watne, the project director of Norges Bank's CBDC project, stated that Norway, as a member of the European Economic Area (EEA), welcomes MiCA's framework. However, he pointed out 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 "address regulatory gaps related to decentralized finance."