Feds release study in regards of digital dollar”| MENAFN.COM

Saturday, 28 May 2022 06:37 GMT

Feds release study in regards of "digital dollar”


(MENAFN) On Thursday, the Federal Reserve Board of Governors published in a research in which it stated that a Central Bank Digital Currency (CBDC) should “complement, rather than replace current forms of money and methods for providing financial services,” implying that it was the first stage in a national debate about a "digital dollar."

The study explores the advantages and disadvantages of a CBDC and seeks input from the public and officials in only 40 pages. Said pages include appendices and footnotes.

Jerome Powell, Fed Chairman, stated that “we look forward to engaging with the public, elected representatives, and a broad range of stakeholders as we examine the positives and negatives of a CBDC in the US.”

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