{"id":63433,"date":"2022-06-24T14:11:37","date_gmt":"2022-06-24T11:11:37","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=63433"},"modified":"2025-09-06T08:58:47","modified_gmt":"2025-09-06T05:58:47","slug":"fed-chair-outlines-work-on-cbdc-implementation-plan","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/fed-chair-outlines-work-on-cbdc-implementation-plan\/","title":{"rendered":"Fed Chair outlines work on CBDC implementation plan"},"content":{"rendered":"<p>Fed Chair Jerome Powell, at a Senate hearing, said he is preparing a strategy for implementing <a href=\"https:\/\/forklog.news\/chto-takoe-tsifrovaya-valyuta-tsentrobankov-cbdc\/\">CBDC<\/a>.<\/p>\n<p><iframe loading=\"lazy\" width=\"949\" height=\"534\" src=\"https:\/\/www.youtube.com\/embed\/g7dSEILUapM\" title=\"WATCH LIVE: Federal Reserve Chair Jerome Powell gives update as Fed signals interest rate hike\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen=\"\"><\/iframe><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cA digital dollar is what we really need to study. \u2026 We must avoid bias,\u201d said the official.<\/p>\n<\/blockquote>\n<p>Powell responded to a question about the Fed&#8217;s next steps in deploying a CBDC.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThis is a very important potential financial innovation that will affect all Americans. Our plan is to work in the coming years on both the policy and the technological side. At some point we will present a recommendation to Congress,\u201d he said.<\/p>\n<\/blockquote>\n<p>Powell noted that the digital dollar should be the prerogative of the state.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cOne of the questions is whether we want private \u2018stablecoins\u2019 to become the digital dollar. I think the answer is no. If we have a CBDC, it should be money guaranteed by the government,\u201d he explained.<\/p>\n<\/blockquote>\n<p>Earlier in January 2022 the Fed <a href=\"https:\/\/forklog.news\/frs-vypustila-doklad-o-tsifrovom-dollare\/\">\u043f\u0440\u0435\u0434\u0441\u0442\u0430\u0432\u0438\u043b\u0430<\/a> \u043e\u0442\u0447\u0435\u0442 \u043f\u043e \u0438\u0442\u043e\u0433\u0430\u043c \u0438\u0437\u0443\u0447\u0435\u043d\u0438\u044f CBDC. The regulator noted that the advent of a sovereign digital form would help the U.S. dollar maintain its status as the world&#8217;s reserve currency.<\/p>\n<p>Later Powell <a href=\"https:\/\/forklog.news\/glava-frs-uvidel-v-kriptovalyutah-i-stejblkoinah-ugrozu-dlya-finansovoj-stabilnosti\/\">\u0437\u0430\u044f\u0432\u0438\u043b<\/a> that the Fed would not continue studying the possibility of launching CBDC without Congressional involvement.<\/p>\n<p>On March 9, President Joe Biden <a href=\"https:\/\/forklog.news\/bajden-vypustil-ukaz-o-koordinatsii-federalnyh-agentstv-v-regulirovanii-kriptovalyut\/\" title=\"\u043f\u043e\u0434\u043f\u0438\u0441\u0430\u043b\">\u043f\u043e\u0434\u043f\u0438\u0441\u0430\u043b<\/a> an executive order coordinating federal agencies in regulating cryptocurrencies. The document required agencies to consider the opportunities, benefits and risks of issuing a central bank digital currency.<\/p>\n<p>Earlier the U.S. Treasury <a href=\"https:\/\/forklog.news\/minfin-ssha-opublikoval-otchet-o-riskah-stejblkoinov\/\" title=\"\u0432\u044b\u043f\u0443\u0441\u0442\u0438\u043b\">\u0432\u044b\u043f\u0443\u0441\u0442\u0438\u043b<\/a> a report on the risks associated with stablecoins. The agency saw in <em>\u201cstablecoins\u201d<\/em> a threat to investors and market integrity, and called for strict legislative restrictions.<\/p>\n<p>Fed Chair repeatedly stressed that for the United States it is important not to be first to issue a 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>.<\/p>\n<p> Read ForkLog&#8217;s Bitcoin news on our <a href=\"\/\/telegram.me\/forklog\u201d\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The head of the U.S. Federal Reserve, Jerome Powell, told a Senate hearing that a CBDC implementation strategy is being prepared.<\/p>\n","protected":false},"author":1,"featured_media":63434,"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-63433","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":"8","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63433","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=63433"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63433\/revisions"}],"predecessor-version":[{"id":63435,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/63433\/revisions\/63435"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/63434"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=63433"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=63433"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=63433"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}