The Federal Reserve is actively investigating the potential impact of a digital dollar, though it has no plans to issue one anytime soon.
The digital dollar again appeared during a Senate hearing. However, it wasn’t the focus of the hearing, but rather just another tool that can be used to maintain U.S. hegemony.
Senate looks at tech and innovation, including CBDC development, as critical area within rising tensions with China.
Digital dollars can promote a more inclusive financial system, or they can contribute to already-growing economic inequality in the U.S.
U.S. senators posed questions to a panel of witnesses on the topics of stablecoins and a digitized dollar during a virtual hearing on Tuesday.
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Witnesses will discuss stablecoins and tokenized dollars during Tuesday’s Senate Banking hearing on the digitization of money.
Federal Reserve Chairman Jerome Powell said central banks should design and implement CBDCs, not private entities.
New acting head of U.S. bank regulator talks about innovation expands financial inclusion and the government’s role in building frameworks for crypto.
Top crypto industry and policy experts debated the privacy ramifications of state-issued virtual currencies during the first day of Consensus.