U.S. Fed Chair Jerome Powell insists he's not plotting to unleash a CBDC, while a new study says concerns about BTC and other digital currency tokens ever serving as global currency are overblown.
A document prepared by the Federal Reserve for presentation to Congress reveals that a CBDC is one of the key duties it’s probing, alongside FedNow and wholesale payments.
Republicans are sounding the alarm over the U.S. Federal Reserve’s CBDC plans, while ‘crypto’ voters prefer CBDC-opponent Donald Trump rather than Joe Biden for president.
Under a new program, the Federal Reserve will expand its oversight on novel banking activities like digital assets and other emerging asset classes.
FedNow gives users an instant 24/7 settlement service—part of the key appeal of a CBDC—and is fully endorsed by the Fed and commercial banks, unlike a CBDC.
Silvergate has been living on borrowed time since it failed to file its latest financial report with the U.S. Securities and Exchange Commission by the already extended deadline.
James Powell, backed by prominent financial regulators, highlights the need to enforce appropriate directives to deal with "issues" concerning DeFi before they snowball and create a big mess.
Jerome Powell has been confirmed to continue as the chairman of the United States Federal Reserve Bank, garnering 80-19 votes from the Senate.
The letter is framed around questions following the comments of Chairman Jerome Powell, which seek to explore the rationale behind the Fed’s approach to digital assets more broadly.
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.
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 Fed is seeking a manager for its retail payments section, who’ll also be charged with researching on cryptos and DLT.
