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ARTICLE · 24 JANUARY 2022

The Fed Issues Paper On The Pros And Cons Of Cryptocurrencies!

The US Federal Reserve issued a paper that "examines the pros and cons of a potential U.S. central bank digital currency, or CBDC, and is the first step in a discussion of whether and how a CBDC...

United StatesTechnology

The US Federal Reserve issued a paper that “examines the pros and cons of a potential U.S. central bank digital currency, or CBDC, and is the first step in a discussion of whether and how a CBDC could improve the safe and efficient domestic payments system.”  The January 20, 2022 paper entitled “Money and Payments: The U.S. Dollar in the Age of Digital Transformation” included this Executive Summary:

For a nation's economy to function effectively, its citizens must have confidence in its money and payment services. The Federal Reserve, as the nation's central bank, works to maintain the public's confidence by fostering monetary stability, financial stability, and a safe and efficient payment system.

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