The European Commission will close a public consultation on the digital euro on Tuesday (June 14), after feedback from EU citizens indicated that a central bank digital currency (CBDC) may not be as welcomed as regulators had hoped for. A day before closing the consultation,...
The banking industry had its say about the Federal Reserve’s ongoing investigation of a digital dollar last week, and it’s fair to say that it fell somewhere between opposition and outrage. In a conversation with PYMNTS’ Karen Webster, Rob Hunter, director of Regulatory and Legislative...
Fed Exec Sees Payments ‘Revolution’ While the Federal Reserve and Treasury Department have been trying to reassure banks that a digital dollar would not disintermediate them, an executive of the New York Federal Reserve warned that central bank digital currencies (CBDCs) could do just that....
No easy path ahead for central bank digital currencies (CBDCs) — and even though here in the U.S., the Federal Reserve would issue them, the Fed is still researching what it all might mean. For the Fed itself. To that end, the Fed released a...
Fed: Digital dollar won’t cut out banks The Federal Reserve’s new vice chair, Lael Brainard, told Congress that a federally issued digital dollar will not cut banks out of the banking system. While the Fed has been non-committal at best about the need for a...
A federally issued digital dollar will not cut banks out of the banking system. If there was one key point that the Federal Reserve’s new vice chair, Lael Brainard, was determined to make in her testimony at the House Financial Services Committee’s Thursday (May 26)...
Republican U.S. lawmakers want to ban app stores from hosting apps that let payments be made with the Chinese digital currency, Reuters reported Thursday (May 26), citing a proposal for legislation seen by the news site. The bill will state that companies owning or controlling...
Much has been made of the need for a digital dollar as a way of reinforcing the U.S. dollar’s role as the world’s reserve currency, making payments faster and cheaper, and bringing the unbanked into the system. But one of the biggest drivers of the...
Lael Brainard, Vice Chair of the Federal Reserve, will testify before the Committee on Financial Services in the U.S. House of Representatives on Thursday, May 26 to examine the benefits and risks of a U.S. central bank digital currency (CBDC). Her written testimony was released...