Fed chair says it's up to Congress to bring a digital dollar to market
Jerome Powell added that the Federal Reserve needed to consider the health of other markets when creating a digital currency. Federal Reserve chair Jerome Powell said 2021 will likely have the central bank engaging with the public and lawmakers regarding the digital dollar.In a House Financial Services Committee hearing today, Powell responded to questions from Representative Patrick McHenry, who said the digital dollar would likely face national and economic security issues for the United States. Powell said there were many concerns surrounding the project and the Fed intended to reach....
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Fed Chair Jerome Powell said the U.S. central bank is currently running technical experiments on how a digital dollar would work. “There are many subtle and difficult policy choices and design choices that you have to make. We’re doing all that work.” He reiterated the process also requires consultation with the public and Congress before […]
Federal Reserve Chairman Jerome Powell says the U.S. central bank is looking at whether to issue a digital dollar with a “very broad scope.” He noted that the Fed is collaborating with Congress and the executive branch on whether to issue a central bank digital currency. Fed Chair Powell on Digital Dollar Progress Federal Reserve Chairman Jerome Powell provided an update of the central bank’s digital dollar work Tuesday during a panel discussion on digital finance hosted by Banque of France. “Cash is not disappearing here in the United States. We still use cash....
SINGAPORE - MAY 7, 2014 - Later this month, Coin Congress will hold its first event in Singapore. The two-day Coin Congress Digital Currency Conference will take place on May 21-22 at the Shangri-La Hotel and will bring together digital currency professionals from around the world. Coin Congress is focused on more than just Bitcoin, digital currency, monetization, integration and user acquisition; the inaugural event will bring together the culture of individuals and companies who are ready to break the mold and spark change. The conference hopes to provide the opportunity to meet and....
The Federal Reserve’s vice chairman of supervision and the chair of the Financial Stability Board (FSB), Randal K. Quarles, doubts the benefits of the digital dollar but says it “could pose significant and concrete risks” to the U.S. banking system. Fed Vice Chair Speptical About Digital Dollar Federal Reserve Vice Chair of Supervision Randal Quarles talked about bitcoin and the Fed’s work on a central bank digital currency (CBDC), the digital dollar, in a speech at the Utah Bankers Association Monday. Quarles is also the chairman of the Financial Stability Board....
In a bipartisan effort, members of Congress from both parties have sent a strong message to Securities and Exchange Commission (SEC) Chair Gary Gensler, urging the approval of Bitcoin (BTC) spot exchange-traded funds (ETFs) and an end to discriminatory practices. The letters, sent before Gensler’s hearing before the House Financial Services Committee, highlight the need […]