The U.S. Federal Reserve is set to publish a research paper on a central bank digital currency this summer, Chairman Jerome Powell announced Thursday.
The paper will focus on assessing the benefits and risks of issuing a CBDC.
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Alex DovbnyaPowell claims that the U.S. is “adapting” to advances in the payment sector, adding that central banks can take advantage of “new possibilities” offered by tech innovations:
Our focus is on ensuring a safe and efficient payment system that provides broad benefits to American households and businesses while also embracing innovation
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The Fed will be asking for public comment on the initiative before taking any further steps.
Yuri Molchan
Vladislav Sopov
Dan Burgin