Fed: Central bank digital currency will complement, not replace, existing digital payment methods

time:2022-01-21 03:30 source:Internet

On January 21, the Federal Reserve released a white paper on digital currency: it does not intend to continue to issue central bank digital currency without explicit support from the executive branch and Congress. The most ideal form is to have specific authorization laws; central bank digital currency will supplement Non-replacement of existing digital payment methods; central bank digital currency can fundamentally change the structure of the US financial system, changing the roles and responsibilities of the private sector and the central bank; solicit public comments on more than 20 central bank digital currency-related issues for a period of 120 days.

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