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Decision on Electronic Money in 2023

The Regional Government has announced that by mid-2023, it will decide whether or not it will move towards introducing an electronic currency to Madeira.

Rui Barreto, Regional Secretary for the Economy, has said that nothing will be done until he evaluates the results of a current study on the legal requirements need to implement a new financial structure to the island.

However, when speaking to reporters, he said that if the results are positive the implementation will only go ahead under the strict supervision of the Banco de Portugal.

Samantha Gannon

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