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Following the long-awaited Fed discussion paper about the pros and cons of a potential U.S. central bank digital currency (CBDC) on Jan. 20, Bank of America economic analysts said they anticipate a...
WASHINGTON (Reuters) — While the Federal Reserve's paper on potentially adopting a central bank digital currency or CBDC will advance debate in Washington, its decision to kick the issue to
A Fed-backed digital dollar would allow for fast and secure transfers without a third party or the wild price swings seen with cryptocurrencies.
The 40-page report says it is "the first step" in creating a discussion with the public about the potential introduction of a central bank digital currency.
The Fed said the report wasn't intended to indicate "any imminent decisions about the appropriateness of issuing a U.S. CBDC."