Digital currency studies continue to be carried out by the central banks of various world countries. While the work continues, some countries such as China and Nigeria have issued their own digital currencies.
While the discussions on the digital dollar continue in the US, US Treasury Secretary Janet Yellen said that more research needs to be done on the creation of the digital dollar.
Yellen stated that she has no personal opinion on the issue of the digital dollar and used the following statements:
“There are pros and cons to launching the digital dollar and I see them, but I have no judgment on that.”
He underlined that the FED has not yet made a decision on whether the digital dollar should be issued, but that this decision is an important one and requires careful research.
“The digital dollar issue is a sensitive one, so there needs to be broad consensus between Congress, the US central bank and the White House.”
While US Secretary of the Treasury Yellen argued that the digital dollar should not be rushed, Lael Brainard, who was chosen by US President Joe Biden as the vice president of the Fed, said that, unlike Yellen, it was urgent to issue a digital dollar in order not to lag behind countries like China in the digital currency race.
While there was no consensus among officials on the digital dollar in the US, Fed Chairman Jerome Powell said in his statement in September that the digital dollar project should not be rushed.