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 successful applicant will be in charge of emerging payment, clearing and settlement systems for the U.S. Federal Reserve.
The proposed rules include redefining ‘money’ to include digital currencies and lowering the transaction data-gathering threshold for cross-border financial transactions.
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.
China is advancing in blockchain adoption, the U.S. is moving towards regulation, Hong Kong and Turkey are moving closer to launching CBDCs
As cryptocurrency and blockchain continue to expand, there is a constant need for well-established, competent employees to help lead, and support the charge.
The Fed is seeking a manager for its retail payments section, who’ll also be charged with researching on cryptos and DLT.
The Fed wants to release a payments system to rival SWIFT and allow real-time settlements indicates it has a real concern over crypto’s ability.
Federal Reserve Chairman Jerome Powell doesn’t know much about Libra yet, but he knows it will be big.
The chairman of the U.S. Federal Reserve, Jerome Powell, understands that cryptocurrency regulations are a requirement if the industry is going to be allowed to thrive.