Federal Reserve Chairman Jerome Powell said that in 2021 the central bank of the United States will start discuss with the public the launch of the digital dollar.
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Talking about the prospects for a new form of money in Congress, he said that the project is associated with a lot of fears, so this year the Fed plans to start a broad discussion of its concept. The Central Bank will hold a number of consultative events, the main purpose of which will be to identify the real shortcomings of the innovation system, and not discuss its very idea.
Powell added that the project team is currently addressing technical and policy issues, and is also sharing experiences with other central banks developing or studying CBDCs..
At the same time, he does not exclude that due to the potential impact of the digital dollar on other markets, the developments will first need to be coordinated with legislators..
Earlier Jerome Powell admitted that the digital currency of the central bank could improve and expand the American payment system..
text: Ivan Malichenko, photo: Reuters