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The US bank releases paper for digital dollar

The US Central Bank issues the paper explaining the conditions, working mechanism, and the pros and cons of the US central bank digital currency (CBDT).

The paper explains driving forces for and restraining forces against the CBDC along with the general purpose of the digital dollar. The draft of precondition suggests that the US is focused more on the future with the need to secure robust technology, market readiness, stakeholder participation, strong legal framework.

The paper ends with the statement from Powell, “There is a great deal of work yet to be done.”

Source: Ledger Insights

Link: https://www.ledgerinsights.com/federal-reserve-outlines-preconditions-for-digital-dollar-cbdc-currency/

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