With the latest developments, the Biden government has stepped up its digital central bank money (CBDC) research efforts.
The Biden administration is bringing the US one step closer to producing CBDC. Today White House According to the details of the draft report announced by the US policy-making institutions and FED from now on, they will hold meetings periodically and speed up their work on the CBDC.
It is known that this project, which will enable and facilitate national digital payments, has been on the agenda of the USA for a long time. In the published report, if the FED decides that it is in the country’s interest to establish a CBDC, The United States is in a position to issue a CBDC specified.
Director of the National Economic Council Brian Deese and the Minister of the Treasury Janet Yellen In a press release on Thursday, White House and your treasure He stated that he is examining the digital dollar in cooperation with the FED. It was stated that both institutions wanted to do their part to strengthen their ongoing analysis and experiments. The statement made on this The final decision will be made by the Fed. highlighted.
And also Federal Stability Oversight Council (FSOC) is set to release a report next month to identify and fill in regulatory gaps regarding digital assets. The report will discuss the financial stability risks of digital assets, identify relevant areas for additional regulation, and make recommendations to promote financial stability.
RussiaIt has been announced recently that it wants to make global payments with cryptocurrencies. In addition, the USA seems to prefer CBDCs rather than cryptocurrencies in global payments.
Fed Chairman powell In his statement dated September 8, “Stablecoins can take place in the economic system if properly regulated. However, regulation studies and laws are needed in this regard.” he had stated. Still, the Fed, which sees stablecoins as risky assets, may choose to issue a digital currency under the control of the US central bank.