US Federal Reserve bank studies issuing “FEDCOIN” digital currency

posted 5 months ago
The US Federal Reserve bank, also known as the United States Central bank, is considering a central bank backed digital currency. The governor of the US Central bank, Lael Brainard, said “Digitalization is enabling consumers and businesses to transfer value instantaneously… and new digital currencies to facilitate these payments… digitalization has the potential to deliver greater value and convenience at lower cost. But there are risks… could pose challenges in areas such as illicit finance, privacy, financial stability, and monetary policy transmission.”

Going on to say “Technology firms… are driving the digital transformation of payments. Not only are the new players bringing innovation to the way payments are made between businesses and consumers and peer-to-peer, but they are bringing new business models that bundle payments with other activities in novel ways.”
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