The financial institution, for example, mentions "unknowns" about how digital currency could affect central banks' key tasks of financial regulation, economic stability, and remittance system supervision in the study. The CBK also repeats the financial decentralization issue that critics of CBDCs frequently employ. According to the paper:

Banks' capability to create loans may be hampered if substantial deposit amounts are shifted from bank accounts to CBDC. Because central banks cannot lend to the private industry, the influence on the function of bank lending must be carefully considered.

Related post: Zambia plans CBDC adoption after condemning Crypto

According to the memo, "when banks forfeit a considerable amount of low-cost transaction deposits," the expense of lending may rise. However, the central bank warned that establishing a CBDC could result in economic inequality "if the necessary technological facilities and technical knowledge are not available to all parts of the society."

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While the CBK claims in the document that "the possible advantages of a Kenyan CBDC is still uncertain," it underlines the importance of hearing the common Kenyan's opinion on the situation.

Drake place a bet on Super Bowl game

A famous Canadian musician, Aubrey Drake Graham, commonly called Drake, placed a large BTC stake on Sunday's Super Bowl match between the Los Angeles Rams (LA Rams) and the Cincinnati Bengals.

Drake shared a photo of his stake with his more than 100 million followers on Instagram, captioning it, "All bets are in for the family." The artist staked a sum of $1.26 million in bitcoins using Stake, a crypto sports gambling site.

Drake wagered CA$600,000 ($472,476) in BTC on the Los Angeles Rams to beat the Bengals. The artist also appeared to be a fan of Los Angeles Rams wide receiver Odell Beckham Jr, wagering CA$500,000 ($393,825) on him to have over 62.5 receiving yards.

Related post: FTX's gifting bitcoins during the super Bowl

Additional CA$500,000 was bet on Beckham Jr catching a goal by the Canadian celebrity. After a deal with CashApp, the Us player stated that he would get his NFL salary in BTC in November. After a deal with CashApp, the Us player stated that he would get his NFL salary in BTC in November.

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Similarly, numerous crypto businesses are showing a lot of enthusiasm in Super Bowl LVI, which starts on Sunday, February 13. Multiple companies have expended lots of dollars on marketing to target spectators during the game.