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Federal Book Chairman Jerome Powell introduced Thursday that the globe's biggest central bank would aim to end up being a "leader" in giving central bank digital currency (CBDC) criteria.
" We are devoted at the Federal Reserve to hearing a variety of voices on this essential concern before making any kind of choice on whether and also exactly how to progress with the U.S. CBDC, taking account the more comprehensive risks and opportunities it might supply," Powell said in a declaration. "We anticipate to play a leading duty in establishing global criteria for CBDCs."
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Powell drops bombshell: Fed to play 'leading role' in developing digital currencies
Federal Reserve Chairman Jerome Powell announced Thursday that the world's largest central bank would strive to become a "leader" in providing central bank digital currency (CBDC) standards.
"We are committed at the Federal Reserve to hearing a wide range of voices on this important issue before making any decision on whether and how to move forward with the U.S. CBDC, taking account the broader risks and opportunities it could offer," Powell said in a statement. "We expect to play a leading role in developing international standards for CBDCs."
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