The Federal Reserve released its long-awaited working paper on the benefits and risks of creating a U.S. central bank digital currency (CBDC) last week. In it, it was clear that the Fed didn’t want to take a position on this issue and doesn’t intend to...
The Fed released its long-awaited paper on Central Bank Digital Currencies last week. After reading it, I don’t get the feeling that even the authors themselves are convinced that a CBDC is the right course of action for the U.S. central bank to take —...
The Federal Reserve has finally dropped its long-awaited central bank digital currency report and it is … careful. Nonetheless, the report, Money and Payments: The U.S. Dollar in the Age of Digital Transformation, does give a window into the U.S. central bank’s thinking on the...
The U.S. Federal Reserve has said making an official digital dollar might give Americans greater and faster payment options at the cost of some potential financial stability risks, Reuters reported. In a paper released Thursday (Jan. 20), the Fed didn’t make policy recommendations — offering...
China’s digital yuan trials captured $8.3 billion of the country’s payments market in the past six months and $13.68 billion in the past two years, just a sliver of the trillions in payments processed in the country annually, CNBC reported, citing data from the People’s...
The regulatory environment is taking shape for central bank digital currencies (CBDCs) — but there’s hardly a clear-cut path forward, at least here in the states. A number of key questions still bubble up. How should central banks — and, especially, the Federal Reserve —...
Switzerland’s National Bank (SNB) has approved a wide swath of transactions involving central bank digital currency (CBDC), the country’s monetary authority announced. The Zurich-based regulator said the digital tokens were integrated into back-office systems and processes for five commercial banks during the second phase of Project...
Last week, Republican Congressman Tom Emmer introduced a bill prohibiting the Federal Reserve from issuing a central bank digital currency (CBDC) directly to individuals. The proposal contains one single amendment to the Federal Reserve Act, extending section 13 to ban the Federal Reserve from offering...
Making the leap from concept to reality is no easy task for central banks mulling over how and when to launch central bank digital currencies (CBDCs) — or even whether to launch them at all. Building the technology underpinning the CBDC is one thing, replete...
