Federal Reserve Governor Michelle W. Bowman said it’s unlikely that the benefits of a central bank digital currency would be greater than the potential risks.
Highlights
- Federal Reserve Governor Michelle W. Bowman said it’s unlikely that the benefits of a central bank digital currency would be greater than the potential risks.
- Bowman: “From my perspective, there could be some promise for wholesale CBDCs in the future for settlement of certain financial market transactions and processing international payments,” Bowman said.
- The U.S.
- Congress will soon be considering the potential for a CBDC as well, a piece of crypto legislation published Saturday (April 15) includes a request for a study of the feasibility and working impact of a digital dollar CBDC.
- A CBDC could be used to achieve policy objectives, for example, by providing government benefits or payments that could only be used only during a given time frame before expiring.
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