Category: digital dollar

Boston Fed president says CBDC research is focused on benefits and costs beyond technology

Boston Fed president says CBDC research is focused on benefits and costs beyond technology

The U.S. Federal Reserve is weighing the potential risks and rewards of a digital currency beyond the technological implications, according to statements from the president of the Boston Fed made Wednesday. According to a report from Reuters, Boston Fed Bank President Eric Rosengren indicated that issues such as privacy and financial stability will play a […]

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Electronic Transactions Association Proposes 7 Guiding Principles for a Digital Dollar

The Electronic Transactions Association (ETA) has put forward a set of guiding principles to be considered in the creation of a U.S. central bank digital currency (CBDC), also referred to as digital dollar. The organization, which unites hundreds of companies in the payments industry, confirms its commitment to ensuring access to financial services for all […]

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Digital Dollar Project to launch five CBDC pilots in the coming months

The Digital Dollar Project has committed to launching “at least” five pilot programs in the next year to test possible frameworks for a U.S. central bank digital currency (CBDC). A partnership with technology consultancy firm Accenture is funding the projects. J. Christopher Giancarlo, former chairman of the Commodities Futures Trading Commission (CFTC) co-founded the Digital Dollar […]

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The Digital Dollar Project by Accenture Will Kickstart Pilot Program for U.S. CBDC Design and Use Case

Co-founded by consulting giant Accenture, The Digital Dollar Project (DDP) is all set to kickstart pilot tests for the U.S. central bank digital currency (CBDC) over the next year to test its design and use cases. For this, Accenture has entered a non-profit partnership with the Digital Dollar Foundation. The report comes just at a […]

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Fed Chairman Says The U.S. Is Not Competing With China on Central Bank Digital Currency (CBDC)

The Chinese central bank – People’s Bank of China (PBoC) – has expedited its efforts on launching its central bank digital currency (CBDC) Digital Yuan. However, the U.S. isn’t quite worried at this point regarding the development of China’s CBDC, said Federal Reserve Chairman Jerome Powell. On Wednesday, April 29, the Fed chairman Jerome Powell […]

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Fed Chair Powell says he sees ‘froth in equities markets’ when asked about dogecoin and GameStop

During a press conference on Wednesday, Jerome Powell, chairman of the Federal Reserve, gave his thoughts on the wilder elements of U.S. markets. His remarks came in response to a question from Yahoo Finance’s Brian Cheung regarding potential concerns about financial stability related to trading in stocks like GameStop and dogecoin trading. “Many people just […]

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Federal Reserve Bank President Says Bitcoin Is Clearly a Store of Value

The Federal Reserve Bank of Dallas president says bitcoin is clearly “a store of value.” Emphasizing the differences between cryptocurrencies, like bitcoin, and central bank digital currencies, he said the latter “won’t necessarily be a store of value.” Fed Bank Chief Calls Bitcoin a Store of Value The president of the Federal Reserve Bank of […]

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US Government Concerned China’s Digital Yuan Could Threaten Dollar as the World’s Dominant Reserve Currency

The U.S. government is reportedly concerned that China’s digital yuan could threaten the U.S. dollar’s status as the world’s dominant reserve currency. Officials at the Treasury, State Department, Pentagon, and National Security Council are increasing their efforts to understand the implications of China’s central bank digital currency. Digital Yuan Could Be a Threat to US […]

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Bitcoin Bull Mike Novogratz Warns of ‘Existential Crisis’ if the US Fails to Create Digital Dollar

Mike Novogratz, the CEO of Galaxy Digital and bitcoin bull has warned that the United States’ failure to have its own digital currency could be an “existential crisis.” However, the CEO says the country’s fate is still in its hands. Novogratz made these comments a few days after former U.S. Secretary of State, Mike Pompeo […]

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The Fed Plans to Unveil Digital Dollar Prototypes in July

The Federal Reserve is actively working on a central bank digital currency and some prototypes are near completion. The Federal Reserve Bank of Boston and the Massachusetts Institute of Technology (MIT) plan to unveil two prototypes of a digital dollar as early as July. Digital Dollar Prototypes Coming Soon Federal Reserve Chairman Jerome Powell said […]

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