US CBDC – DIGIT INFO

Presidential hopefuls RFK Jr. and DeSantis rally against FedNow

DIGIT — Tue, 11 Apr 2023 04:06:11 +0000

The two presidential hopefuls are of the opinion that FedNow is the first step in launching a CBDC that threatens privacy and autonomy.

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US Senator Introduces Bill to Ban Direct-to-Consumer Central Bank Digital Currency

DIGIT — Thu, 23 Mar 2023 08:50:00 +0000

U.S. Senator Ted Cruz has introduced “legislation to prohibit the Federal Reserve from developing a direct-to-consumer” central bank digital currency (CBDC). The lawmaker warned that it “could be used as a financial surveillance tool by the federal government.” Another senator stressed: “The American people ought to be able to spend their money how they choose […]

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Fed Chair Powell Provides Update on US Central Bank Digital Currency

DIGIT — Fri, 10 Mar 2023 05:20:03 +0000

Federal Reserve Chairman Jerome Powell has provided an update on the Fed’s central bank digital currency (CBDC) work in a hearing before the House Financial Services Committee. While stating that the Fed is “making progress on technological issues,” Powell stressed that “policy issues are equally important.” Fed Chair Powell on CBDC Progress During a hearing […]

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US Treasury and White House to Hold Regular Meetings on CBDCs and Payment Innovations

DIGIT — Thu, 02 Mar 2023 15:30:29 +0000

On March 1, 2023, Nellie Liang, undersecretary for domestic finance at the U.S. Treasury, delivered a speech to the Atlantic Council in Washington concerning the subject of central bank digital currencies (CBDCs). Liang detailed during her speech that a CBDC is one of several options for “upgrading the legacy capabilities of central bank money,” and […]

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New York Fed and 9 Major Banks to Test ‘Interoperable Network of Central Bank Wholesale Digital Money’

DIGIT — Sat, 19 Nov 2022 22:30:13 +0000

Nine major financial institutions and the Federal Reserve Bank of New York have started to experiment with a digital dollar proof of concept to see if distributed ledger technology can improve settlement between central banks, commercial banks, and regulated non-banks. The New York Fed details that the proof of concept will be done in a […]

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Fed Governor Says ‘Blockchain Is Totally Overrated,’ Claims Crypto Is ‘Just Electronic Gold’

DIGIT — Sat, 26 Mar 2022 15:30:42 +0000

The American economist and member of the Federal Reserve Board of Governors, Christopher Waller, believes blockchain technology is “totally overrated,” even though the U.S. central bank “put a lot of resources into understanding digital currencies and the blockchain.” On Friday, Waller spoke during a panel that discussed central bank digital currencies (CBDCs) and said that […]

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