The US Federal Reserve (FED) has released the long-awaited report containing the pros and cons of the digital central bank currency (CBDC).
FED, January 20 He said that an official US digital currency may offer potential benefits to consumers and businesses, as well as potential risks, and it is not clear which one will outweigh. Stating that it has not yet made a decision on CBDCs, the FED said, “They do not intend to make a decision on the US CBDC any time soon.” he stated.
Noting that existing cryptocurrencies can be used for illegal purposes, the Fed said that depending on how it was designed, a CBDC might be required. security and liquidity if it provides A digital currency suitable for the public and businesses Said it could be. However, he underlined that because CBDC carries risks, it can affect banks, credit availability, stability of the financial system and monetary policies.
Fed, public US CBDCTo get feedback on the potential benefits and risks of 20 May asked them to participate in a survey valid until
Fed Chairman Jerome Powell in his statement;
We look forward to engaging with the public, elected representatives and a wide range of stakeholders as we examine the pros and cons of digital central bank money in the US.
said.
In the report, it was stated that the FED will take more steps for CBDC if the advantages of CBDC for businesses, the public and the economy in general come to the forefront or if it is proven that it is superior to its alternatives, as a result of the researches.