US Federal Reserve Chair Jerome Powell told lawmakers that the regulator remains far from adopting or even recommending a central bank digital currency (CBDC).
Powell made the statement during a March 7 Senate Banking Committee hearing on monetary policy.
The Fed chair’s testimony aimed to quell fears over privacy concerns, emphasizing that the Federal Reserve would not engage in creating a system that allows government surveillance of American citizens’ transactions.
Upholding privacy
Addressing the Senate, Powell stressed the Fed’s current stance on the digital dollar concept, highlighting that the US is far from moving forward with any form of CBDC. The statement comes amid growing discussions globally about the potential and implications of digital currencies issued by central banks.
Contrary to some international approaches where government tracking of digital currency transactions is possible, Powell assured lawmakers that the Fed would prioritize privacy.
He stated:
“If
We współpracy z: https://cryptoslate.com/fed-chair-powell-confirms-regulator-has-no-plans-to-recommend-adopt-cbdcs/
