House Republicans noted that only Congress has the power to coin money and regulate the value thereof, despite Biden’s order to DOJ seeking its CBDC assessment.
The Federal Reserve is still weighing the advantages of a CBDC and is in no rush to reach a decision on to rollout the technology, according to Jerome Powell.
Lael Brainard, a member of the Federal Reserve Board of Governors, recently spoke about the Federal Reserve’s approach and thoughts on the blockchain and digital asset industries.
Jerome Powell has in the past remained tightlipped on the central bank digital currency, urging caution and claiming the Federal Reserve was monitoring the field.
The Bank of Canada said the global health crisis had hastened the urgency of the development of its state-backed digital currency.
Central bank officials have indicated progress has been made on launching a digital currency, citing the pressures of the COVID-19 pandemic as a catalyst.
The project had moved beyond proof-of-concept and was approaching being ready for a wider rollout, according to the central bank head.
Australia’s digital payments systems are adequate for the citizens’ needs, according to Tory Richards, head of payments policy at the Reserve Bank of Australia.
The central bank has been studying and testing DLT for years now and is currently working on a hypothetical digital currency oriented to central bank uses.
This week, we check into the recent U.S. Senate hearing exploring the digitization of money, SeafoodChain’s pilot launch, and Twetch’s latest win.
The Bank of Canada is aiming to develop a central bank digital currency that could mimic bank notes on the blockchain.