Experts divided over Fed’s ‘intermediated’ approach to CBDC
Observers praise the Fed’s conservative pace but criticise aspects of its hypothetical system design
On January 20, the Federal Reserve released a long-anticipated research paper on the potential of a central bank digital currency (CBDC) in the US, revealing a few hints as to the likely design features.
A CBDC, the Fed says, could offer benefits of convenience, innovation, speed, cost and accessibility. At the same time, the central bank stresses it remains wary of how the technology will affect market infrastructure, monetary stability, criminal activity and cyber security.
Though the Fed
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