{"id":60136,"date":"2022-04-14T17:50:47","date_gmt":"2022-04-14T14:50:47","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=60136"},"modified":"2025-09-05T01:39:51","modified_gmt":"2025-09-04T22:39:51","slug":"fed-weighs-feasibility-of-a-digital-dollar","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/fed-weighs-feasibility-of-a-digital-dollar\/","title":{"rendered":"Fed weighs feasibility of a digital dollar"},"content":{"rendered":"<p><span data-descr=\"Federal Reserve System\" class=\"old_tooltip\">Fed<\/span> is considering potential risks and benefits of a national digital currency (CBDC) through research and experimentation. A final decision on issuance has not been made.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">While the Federal Reserve has made no decisions on whether to pursue or implement a central bank digital currency (CBDC), we have been exploring the potential benefits and risks of CBDCs from a variety of angles, including through technological research and experimentation. (2\/3)<\/p>\n<p>\u2014 Federal Reserve (@federalreserve) <a href=\"https:\/\/twitter.com\/federalreserve\/status\/1514304754431705089?ref_src=twsrc%5Etfw\">April 13, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The current statement contrasts with the neutral tone of earlier ones. Fed Chair Jerome Powell noted that for the United States it is important not to be the first to issue CBDC, but <a href=\"https:\/\/u1f987.com\/en\/news\/fed-chair-for-the-united-states-getting-the-digital-currency-right-matters-more-than-being-first\">do it with the right approach<\/a>. In the regulator&#8217;s documents, the final decision on issuance should be made by Congress.<\/p>\n<p>In the <a href=\"https:\/\/u1f987.com\/en\/news\/fed-releases-report-on-the-digital-dollar\">CBDC study report<\/a>, released in January 2022, there was a similar formulation. At that time the Fed requested public comments on its provisions until May 20.\u00a0<\/p>\n<p>A month later <span data-descr=\"Federal Reserve Bank\" class=\"old_tooltip\">the Boston Fed<\/span> and <span data-descr=\"Massachusetts Institute of Technology\" class=\"old_tooltip\">MIT<\/span> <a href=\"https:\/\/forklog.io\/mit-i-frs-vypustili-white-paper-tsifrovogo-dollara\/\">presented<\/a> a white paper and open-source CBDC code as part of the first phase of examining its potential issuance.<\/p>\n<p>On March 9, President Joe Biden <a href=\"https:\/\/u1f987.com\/en\/news\/biden-issues-executive-order-coordinating-federal-agencies-on-cryptocurrency-regulation\">signed<\/a> an executive order coordinating federal agencies in regulating cryptocurrencies. The document required agencies to consider the opportunities, benefits and risks of issuing a digital dollar.<\/p>\n<p>Together with the current statement on the Fed&#8217;s website, there is a CBDC FAQ section. In it, the Fed said that digital wallets, fintech apps, as well as cryptocurrencies and stablecoins could &#8220;improve the already safe and efficient US payments system&#8221;.<\/p>\n<p>The final decision on issuing a CBDC will be based on the following criteria:<\/p>\n<ul class=\"wp-block-list\">\n<li>existence of advantages for households, businesses and the economy as a whole;<\/li>\n<li>improvement to existing technological infrastructure;<\/li>\n<li>consumer privacy;<\/li>\n<li>complement to monetary forms of money and financial services;<\/li>\n<li>protection against criminal activity.<\/li>\n<\/ul>\n<p>Earlier in February, Senator Pat Toomey <a href=\"https:\/\/forklog.io\/senator-pet-tumi-uvidel-v-tsifrovom-yuane-ugrozu-dlya-natsbezopasnosti-ssha\/\">saw<\/a> a threat to US national security in the digital yuan.<\/p>\n<p> Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog Feed<\/a> \u2014 the full feed of news, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog<\/a> \u2014 the most important news, infographics and opinions <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Fed is examining the potential risks and benefits of a national digital currency (CBDC) through research and experimentation. A final decision on issuance has not been made.<\/p>\n","protected":false},"author":1,"featured_media":60137,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1095,1334,1249],"class_list":["post-60136","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cbdc","tag-digital-dollar","tag-federal-reserve-system"],"aioseo_notices":[],"amp_enabled":true,"views":"6","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/60136","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=60136"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/60136\/revisions"}],"predecessor-version":[{"id":60138,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/60136\/revisions\/60138"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/60137"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=60136"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=60136"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=60136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}