No easy path ahead for central bank digital currencies (CBDCs) — and even though here in the U.S., the Federal Reserve would issue them, the Fed is still researching what it all might mean. For the Fed itself. To that end, the Fed released a...
Fed: Digital dollar won’t cut out banks The Federal Reserve’s new vice chair, Lael Brainard, told Congress that a federally issued digital dollar will not cut banks out of the banking system. While the Fed has been non-committal at best about the need for a...
A federally issued digital dollar will not cut banks out of the banking system. If there was one key point that the Federal Reserve’s new vice chair, Lael Brainard, was determined to make in her testimony at the House Financial Services Committee’s Thursday (May 26)...
Republican U.S. lawmakers want to ban app stores from hosting apps that let payments be made with the Chinese digital currency, Reuters reported Thursday (May 26), citing a proposal for legislation seen by the news site. The bill will state that companies owning or controlling...
Much has been made of the need for a digital dollar as a way of reinforcing the U.S. dollar’s role as the world’s reserve currency, making payments faster and cheaper, and bringing the unbanked into the system. But one of the biggest drivers of the...
Lael Brainard, Vice Chair of the Federal Reserve, will testify before the Committee on Financial Services in the U.S. House of Representatives on Thursday, May 26 to examine the benefits and risks of a U.S. central bank digital currency (CBDC). Her written testimony was released...
Circle has responded to a Federal Reserve paper Wednesday (May 25) about the possibilities of a U.S. central bank digital currency (CBDC), saying it could “destabilize” banking. The issuer of the USDC stablecoin said the CBDC, “both in interest bearing and non-interest bearing forms, creates...
Latin American exchange Mercado Bitcoin is teaming with the Stellar Development Foundation (SDF) on one of the nine projects in the LIFT Challenge Real Digital, a collaborative environment hosted by the Central Bank of Brazil and the National Federation of Associations of Central Bank Servers....
The Federal Reserve asked the public for its thoughts on the need for a central bank digital currency (CBDC), and the banking industry has answered with a resounding “no.” The comments came in response to the Fed’s report, “Money and Payments: The U.S. Dollar in...
