The US Federal Reserve is exploring the possibility of issuing the central bank digital currency (CBDC), as well as the possible problems and risks that the digital dollar may incur.
Learning the digital dollar
In a letter written by Federal Reserve Chairman Jerome Powell, he outlined officials' views on the establishment of the CBDC. The Federal Reserve is considering in detail the possibility of launching a digital currency of the central bank and is studying all the “costs and benefits” of its issue.
According to Powell, Federal Reserve officials are closely monitoring other central banks, which may also consider launching their own cryptocurrency.
As well as cryptocurrency news, they study Libra Facebook in detail, the most discussed crypto-project of 2019, which caused dissatisfaction among politicians and regulators around the world.
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- The future Chinese digital yuan, may push the United States to create its own cryptocurrency. This was stated by the CEO of Kraken cryptocurrency exchange, Jess Powell, in an interview on Youtube.