The United States Federal Reserve Chair Jerome Powell said on Monday that it is more important for the US to get it a digital currency right than to just be first in the field.<\/p>\n\n\n\n
\u201cWe do think it\u2019s more important to get it right than to be first and getting it right means that we not only look at the potential benefits of a CBDC, but also the potential risks, and also recognize the important trade-offs that have to be thought through carefully.\u201d<\/p>
\u201cIn addition to assessing the benefits, and there may well be benefits, there are also some quite difficult policy and operational questions that need to be thoroughly evaluated.\u201d<\/p>
\u201cI would mention the need to protect a CBDC from cyber attacks, counterfeiting and fraud, the question of how a CBDC would affect monetary policy and financial stability, and also how could a CBDC prevent illicit activity while also preserving user privacy and security.\u201d<\/p>
\u201cOne set of experiments is being carried out at the board of governors here in Washington, D.C.\u201d<\/p>
\u201cComplementary efforts are also now underway, for example through the Federal Reserve Bank of Boston, which, in collaboration with researchers at MIT is developing a hypothetical central bank digital currency.\u201d<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"
The United States Federal Reserve Chair Jerome Powell said on Monday that it is more important for the US to get it a digital currency right than to just be first in the field. \u201cWe do think it\u2019s more important to get it right than to be first and getting it right means that we …<\/p>\n","protected":false},"author":10,"featured_media":32921,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[40,37,36],"tags":[6903,6867],"class_list":["post-35689","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-cryptocurrencies","category-forex-markets","category-market-updates","tag-cryptocurrencies","tag-federal-reserve"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/35689","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=35689"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/35689\/revisions"}],"predecessor-version":[{"id":35690,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/35689\/revisions\/35690"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/32921"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=35689"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=35689"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=35689"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}