The Federal Reserve Board continues to analysis a central financial institution digital foreign money (CBDC), or at the very least adjoining applied sciences, Vice Chair Michael Barr stated on Oct. 27. He additionally touched on stablecoins on the Economics of Funds XII Convention, the place his English colleague Sir Jon Cunliffe made his final speech as deputy governor of the Financial institution of England (BOE).
The Fed’s analysis is at the moment centered on “end-to-end system structure,” comparable to ledgers and tokenization and custody fashions for an intermediated CBDC, Barr stated in Washington. Barr repeated the Fed mantra of no digital greenback and not using a congressional mandate, however added that “studying from each home and worldwide experimentation can support decisionmakers in understanding how we are able to finest help accountable innovation.”
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