CBDCs to coexist with cash payments, according to FED Chairman Powell
The Committee on Payments and Market Infrastructures conference was held in Basel, Switzerland. One of the main guests was the Chairman of the U.S. Federal Reserve, Jerome Powell. Referring to a report created by the institution he chairs and other banking institutions, Powell said: A recent report from the Bank for International Settlements (BIS) and […]
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The U.S. does not want cash to go extinct in the presence of a CBDC, according to the Fed’s chairman. Many expect that a time could soon come when central bank digital currencies, or CBDCs, replace physical dollars once and for all. Comments from United States Federal Reserve Chairman Jerome Powell, however, indicate that this may not be the case.The chairman’s comments were filmed and later shown at an event in Switzerland on Thursday, according to an article from Bloomberg. The Committee on Payments and Market Infrastructures put on the event. In his talk, Powell mentioned that the U.S.....
The IMF panel on cross-border payments was a Central Bank Digital Currency (CBDC) discussion in disguise, headlined by Jerome Powell, chairman of the Federal Reserve. The post Video: The Fed Considers CBDCs And Bretton Woods 2.0 appeared first on Bitcoin Magazine.
According to former chairman of the SEC, Jay Clayton, cryptocurrencies serve a variety of functions and are tied to a range of industries, and the SEC should regulate only those industries that are related to them. Clayton Believes In Crypto Technology Jay Clayton, the former chairman of the Securities and Exchange Commission, or SEC, was appointed to the position by ex-President Donald Trump in 2017. Clayton frequently supported Bitcoin (BTC) as a store of value throughout his time as the SEC’s chairman. Jay discussed bitcoin and how it should be controlled in the future during an....
Federal Reserve Chairman Jerome Powell will speak next week as part of a panel on the future of cross-border payments at the International Monetary Fund’s (IMF) annual meeting.
The U.S. already has a “safe and active dynamic domestic payment system,” Powell argued. The United States will not be issuing a digital dollar until the Federal Reserve resolves all questions around a potential central bank digital currency, or CBDC, according to the Fed's chairman, Jerome Powell.Powell claimed that he is not worried about other countries having a first-mover advantage when it comes to issuing CBDCs.Speaking at an Oct. 19 panel on cross-border payments hosted by the International Monetary Fund, Powell said:We have not made a decision to issue a CBDC, and we think there’s....