Norway supports MiCA, considering CBDC to achieve financial stability

On November 9, the Central Bank of Norway has recognized the EU's Markets in Crypto-Assets Regulation (MiCA), and the country is assessing the possibility of adopting a central bank digital currency (CBDC). Kjetil Watne, project director for Norges Bank's CBDC project, said that as a member of the European Economic Area (EEA), Norway welcomes MiCA's framework. However, he pointed out that they are still considering "whether additional regulation is needed to promote financial stability". The Central Bank of Norway "has not yet decided" whether to issue a CBDC and is evaluating how to "mitigate regulatory gaps related to decentralized finance".