US Fed Bank Chairman Powell testifies the US could issue a digital dollar fairly quickly

posted 8 months ago
Testifying in front of the US Congress, Powell was asked about central bank digital currencies and the Fed’s view on a digital dollar. He acknowledged that Facebook’s Libra project was a “wake-up call” that a digital currency could come “fairly quickly” and in a way that is “quite widespread and systemically important.” But he said that there are still “many questions that need to be answered around digital currency for the United States.”

When asked about China's digital currencies, he made a case for private transactions. "A ledger where you know everybody's payments is not something that would be particularly attractive in the context of the US"
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