Nellie Liang, the U.S. Treasury Department’s undersecretary for domestic finance, suggested that the federal government’s work on a potential digital dollar is accelerating, saying leaders from various agencies and White House offices are starting meetings in the “coming months.”
US lawmaker introduces bill aimed at limiting Fed’s authority on digital dollar
If passed, the legislation could prohibit the Fed from issuing a digital dollar “directly to anyone”, as well as bar the bank from implementing monetary policy based on a CBDC.
Project Hamilton has concluded, weeks after legislators’ enquiry, according to Boston Fed
The two-year project produced a white paper in February. Research results will continue to appear, with the Fed’s partner at MIT scheduled to make a research report in January.
Clearing company tests out securities transaction settlements on blockchain networks
The Digital Dollar Project and the Depository Trust & Clearing Corporation trialed a potential settlement system using tokenized securities and CBDC in real world conditions.
NY Fed launches 12-week CBDC pilot program with major banks
Banking giants including BNY Mellon, Citi, U.S. Bank and Wells Fargo will be issuing tokens and settling transactions through simulated central bank reserves as part of the pilot.
Republican lawmakers call for answers on digital dollar from Fed vice chair
The House members asked for clarification on whether the Fed may be considering an “intermediated model” for a digital dollar that could require authorization from Congress.
Fed conference hears stablecoins may boost USD as global reserve currency
The underlying tech of a central bank digital currency wasn’t enough to convince some panelists at a Fed conference that it could change the international currency system.
US lawmaker lays out case for a digital dollar
“It is now time for Congress to begin the process of considering and ultimately passing authorizing legislation for the issuance of a U.S. CBDC,” said Representative Jim Himes.
5 reasons why Bitcoin could be a better long-term investment than gold
Crypto advocates often refer to Bitcoin as “digital gold,” but how does BTC stack up against gold as a long-term investment?
Draft bill to ban China’s digital yuan from US app stores
Three Republican senators introduced a bill to protect Americans from the “Authoritarian Digital Currencies Act.”
US needs ‘electronic tokens’ with functionality of cash — Software Freedom Law Center legal director
Software Freedom Law Center legal director Mishi Choudhary supported tokens that were not quite CBDCs nor cryptocurrencies, but with cash-like privacy features many users may want.
Blockchain Association policy head: US shouldn’t compete with China’s CBDC using surveillance tools
“We will not compete against China — an authoritarian dictatorship — by also acting like an authoritarian dictatorship,” said Jake Chervinsky.
Fed’s Lael Brainard hints at US playing a lead role in development of CBDCs
“A U.S. CBDC may be one potential way to ensure that people around the world who use the dollar can continue to rely on the strength and safety of U.S. currency to transact and conduct business in the digital financial system,” said Lael Brainard.
MIT, Boston Fed give digital dollar CBDC a modest test run
Blockchain-based architecture was deemed “not a good match” as researchers weighed several technological designs.
Former CFTC chair Chris Giancarlo joins Digital Asset’s board
Many in the crypto and blockchain space referred to Giancarlo as “Crypto Dad” for his role in supporting digital assets during his five years at the CFTC.
Fed issues discussion paper on benefits and risks of a digital dollar
“The Federal Reserve would only pursue a CBDC in the context of broad public and cross-governmental support,” said the recently published paper.
US lawmaker proposes bill aimed at limiting Fed’s ability to issue CBDC
Having the Fed require users to open accounts to access the benefits of a digital dollar would put it “on an insidious path akin to China’s digital authoritarianism,” according to Tom Emmer.
China’s central bank releases pilot version of digital yuan wallet
The “e-CNY (Pilot Version)” app was made available for download on the Chinese Android and Apple app stores on Tuesday.
Digital dollar needs broad consensus among authorities, says US Treasury Secretary
Such a move would require broad consensus among Congress, the U.S. central bank and the White House.
US Senator Pat Toomey supports digital dollar, nomination of Powell as Fed chair
“The idea of having a tokenized dollar that is capable of being exchanged on a peer-to-peer basis on a platform where developers can innovate and develop new products and services… I think there’s a strong case for that,” said Pat Toomey.