Fed’s Powell warns of central bank digital currency impact on private sector
Powell says digital currencies issued by central banks could “stifle” private sector payment innovation
A governor from the Federal Reserve has warned of the problems a central bank-issued digital currency could pose for the private sector, addressing an audience at Yale Law School.
Speaking on March 3, Jerome Powell discussed the various uses of distributed ledger technology (DLT), honing in on the benefits it could reap in the area of payments and digital currency.
For Powell, a central bank-issued digital currency would “compete” with current faster payment initiatives and could “stifle
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