Fed governor says CBDCs remain 'a solution in search of a problem'
Chris Waller’s comments come after Jerome Powell said that the Federal Reserve would be issuing a discussion paper on CBDCs. Chris Waller, a member of the Board of Governors of the Federal Reserve System (Fed), seems to think it’s unnecessary for the United States government to develop a central bank digital currency, or CBDC.Speaking with Michael Strain of the American Enterprise Institute today, Waller said he was “highly skeptical” of a central bank digital currency, addressing issues in existing payment systems. He feels that the U.S. government should only intervene with a potential....
Related News
Fed Chair Jerome Powell says there is no pressure to rush any central bank digital currency development plans. The United States Federal Reserve is still evaluating the prospects of introducing a digital currency for the country but says it has not yet decided on the matter.Speaking at a news conference on Wednesday, Powell stated that the Federal Reserve was studying the merits of creating a digital dollar and has plans to issue a paper on the matter.“We are working proactively to issue a CBDC and if so, in what form,” Powell stated while fielding questions at the news conference,....
Reserve Bank of India Deputy Governor T. Rabi Sankar says with complete confidence that digital bank assets or CBDCs will ultimately pull the plug on cryptocurrencies such as Bitcoin, Ethereum, and others. So, is this seriously the end of the line for crypto? RBI Deputy Governor T. Rabi Sankar says: “We believe that CBDCs would […]
Reserve Bank of India (RBI) Deputy Governor T. Rabi Sankar says central bank digital currencies could “kill whatever little case there could be” for cryptocurrencies, like bitcoin and ether.
RBI’s Deputy Governor Discusses Impact of CBDCs on Cryptocurrencies
RBI Deputy Governor T. Rabi Sankar talked about the potential impact of central bank digital currencies (CBDCs) on cryptocurrencies, like bitcoin and ether, at a webinar organized by the International Monetary Fund (IMF), local media reported Friday.
He was quoted as saying:
We (RBI)....
Hopes of an eventual BTC ETF approval and a rebound off a key support level pushed Bitcoin price well above the $40,000 level, but can the bulls sustain the current volume? Crypto investors are seeing gains in Ether (ETH) and Bitcoin (BTC) today after the successful launch of Ethereum's London hard fork and a series of new Bitcoin ETF filings resulted in a rally that propelled BTC price 9% higher and Ether gained 11.75% which brings the altcoin closer to the elusive $3,000 level.Data from Cointelegraph Markets Pro and TradingView shows that after an early morning sell-off that saw BTC....
Johannes Gawaxab, the governor of the Bank of Namibia (BON), has said his organization is planning to launch a central bank digital currency (CBDC). The governor, however, warns the launch might have implications for financial stability.
BON Researching CBDCs
The BON governor, Johannes Gawaxab, recently confirmed that the central bank is now planning to launch a CBDC. He confirmed the BON has already started researching CBDCs which, according to him, are now a “reality” that cannot be ignored.
In remarks published by Namibia Daily News, Gawaxab hinted....