US Treasury Secretary Janet Yellen has yet to form an opinion on a possible digital dollar release. At the Reuters Next conference, she statedthat Congress, The fed and the White House needs to come to an agreement on a number of issues.
“It [выпуск CBDC] an important decision that requires consensus. There are some benefits, but there are also significant costs. A step can lead to disintermediation banking system. You know, we need to work out all the pros and cons. I don’t have my own opinion yet, ”she said.
According to Yellen, government agencies need to examine the advantages and disadvantages of CBDC, including its impact on the banking system. The minister recalled that soon the Fed will present a report on this issue.
She clarified that in the presidential administration, the digital dollar was not discussed “in a serious way” and Congress, in turn, should also express its opinion.
In September, the Fed expanded its research into digital currency. Several regional banks have joined the regulator’s initiative. According to the head FRB Cleveland Loretta Mester, the project builds and tests various distributed ledger platforms.
Earlier, a member of the Federal Reserve Board of Governors Laelle Brainard said that the country needs to “urgently” accelerate the development of the digital dollar.
In October, Fed experts named cryptocurrencies as one of the possible threats to the dollar’s hegemony in the long term.
In November, the US Treasury released a report on the risks associated with stablecoins. The agency saw in “stablecoins” a threat to investors and the integrity of the market, and also requested tough legislative restrictions.
Recall that in 2022, US banking regulators will prepare a guide to cryptocurrencies.
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US Treasury Secretary Janet Yellen has yet to form an opinion on a possible digital dollar release. At the Reuters Next conference, she statedthat Congress, The fed and the White House needs to come to an agreement on a number of issues.
“It [выпуск CBDC] an important decision that requires consensus. There are some benefits, but there are also significant costs. A step can lead to disintermediation banking system. You know, we need to work out all the pros and cons. I don’t have my own opinion yet, ”she said.
According to Yellen, government agencies need to examine the advantages and disadvantages of CBDC, including its impact on the banking system. The minister recalled that soon the Fed will present a report on this issue.
She clarified that in the presidential administration, the digital dollar was not discussed “in a serious way” and Congress, in turn, should also express its opinion.
In September, the Fed expanded its research into digital currency. Several regional banks have joined the regulator’s initiative. According to the head FRB Cleveland Loretta Mester, the project builds and tests various distributed ledger platforms.
Earlier, a member of the Federal Reserve Board of Governors Laelle Brainard said that the country needs to “urgently” accelerate the development of the digital dollar.
In October, Fed experts named cryptocurrencies as one of the possible threats to the dollar’s hegemony in the long term.
In November, the US Treasury released a report on the risks associated with stablecoins. The agency saw in “stablecoins” a threat to investors and the integrity of the market, and also requested tough legislative restrictions.
Recall that in 2022, US banking regulators will prepare a guide to cryptocurrencies.
Subscribe to Cryplogger news on Telegram: Cryplogger Feed – the entire news feed, Cryplogger – the most important news, infographics and opinions.
Found a mistake in the text? Select it and press CTRL + ENTER
