Fed takes ‘first step’ toward considering digital dollar, seeks public comment

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(Worthy News) – The Federal Reserve is asking for the public’s help in weighing whether the United States should develop and adopt a central bank digital currency.

The Fed took the first step in the consideration process Thursday when it released its much-anticipated discussion paper. The 40-page document makes no policy recommendations regarding the adoption of a CBDC but did discuss the potential benefits and risks of doing so.

The paper examines the current domestic payment system and emerging digital payment systems that have been developed over the past few years. The Fed is soliciting public comment about the notion of a centralized digital currency for the next four months and is encouraging the public to share its thoughts. [ Source: Washington Examiner (Read More…) ]

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