digital dollar – Page 5

Fed issues discussion paper on benefits and risks of a digital dollar

“The Federal Reserve would only pursue a CBDC in the context of broad public and cross-governmental support,” said the recently published paper.

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US Lawmaker Launches Bill to Prohibit the Fed From Issuing Digital Currency Directly to Individuals

A U.S. lawmaker has introduced a bill in Congress to prohibit the Federal Reserve from issuing a central bank digital currency (CBDC) directly to individuals. “It is important to note that the Fed does not, and should not, have the authority to offer retail bank accounts,” he stressed. Bill Introduced to Prohibit the Fed From […]

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US lawmaker proposes bill aimed at limiting Fed’s ability to issue CBDC

Having the Fed require users to open accounts to access the benefits of a digital dollar would put it “on an insidious path akin to China’s digital authoritarianism,” according to Tom Emmer.

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China’s central bank releases pilot version of digital yuan wallet

The “e-CNY (Pilot Version)” app was made available for download on the Chinese Android and Apple app stores on Tuesday.

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US Treasury Secretary Yellen Says She’s Undecided Whether the Fed Should Issue Digital Currency

The U.S. Treasury Secretary Janet Yellen says that she has not made up her mind about whether the Fed should issue a central bank digital currency (CBDC). “There are some benefits” to a digital dollar, Yellen said, but noted that “there are also meaningful costs.” Janet Yellen Has Not Decided Whether the Fed Should Develop […]

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Digital dollar needs broad consensus among authorities, says US Treasury Secretary

Such a move would require broad consensus among Congress, the U.S. central bank and the White House.

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US Senator Pat Toomey supports digital dollar, nomination of Powell as Fed chair

“The idea of having a tokenized dollar that is capable of being exchanged on a peer-to-peer basis on a platform where developers can innovate and develop new products and services… I think there’s a strong case for that,” said Pat Toomey.

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US is not moving fast enough to develop a CBDC, says former CFTC chair

“We should act now to improve access to financial services through other means as well — the need is too great,” said Tim Massad.

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Federal Reserve Governors Don’t See Reason to Issue Central Bank Digital Currency

At least three Federal Reserve governors have said that they do not see a reason for the Fed to issue a central bank digital currency (CBDC). The Fed is currently putting together a report on a digital dollar to be released in the near future. Fed Governors Doubt Need for Digital Dollar Federal Reserve Governor […]

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Digital dollar advocate will retire as Dallas Fed president

At a November 2020 virtual conference, Rob Kaplan said “it is critical that the Fed focuses on developing a digital currency in the coming months and years.”

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