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Federal Reserve to Release Research Paper on U.S. Digital Currency This Summer

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Thu, 20/05/2021 - 18:35
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Federal Reserve to Release Research Paper on U.S. Digital Currency This Summer
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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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Powell 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.

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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