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US Fed Weighs Up Potential CBDC As Countermove Against China

US Fed Weighs Up Potential CBDC As Countermove Against China
This is a a cryptocurrency ATM. Manufacturer is GeneralBytes, operator is CoinFlip. Photo taken in Shelton’s Bar of Peoria, Illinois.
Image by
Wrosenb2

Where just a handful of years ago, the idea would have been immediately dismissed or even met with ridicule, the United States Federal Reserve is now taking the concept of an official dollar stablecoin seriously.

Markets have heard more frequent guidance from the Fed on cryptocurrencies in recent years, and thanks to two curious U.S. representatives — French Hill and Bill Foster — this guidance now includes an enlightening response from Fed Chairman Jay Powell to their letter on a central bank digital currency, or CBDC…

To read more visit Cointelegraph

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