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Digital Dollar
Digital Dollar May Pose 'Significant Risk,' Fed Governor Bowman Says
Governor Michelle Bowman suggests other payments services, including FedNow, may do a CBDC's job better, and she's also suspicious of the dangers of stablecoins.
U.S. CBDC Efforts Opposed in Legislation Advanced by House Republicans
The House Financial Services Committee approved a bill meant to prevent a U.S. central bank digital currency.
Dueling Digital Dollar Bills Debated in Congressional Hearing on U.S. CBDC
House Republicans want to ban U.S. CBDCs before they’re even formally proposed by the Federal Reserve, but one senior Democrat is pitching a bill that goes the other way.
U.S. Fed’s Vice Chair Barr Says CBDC Decision Still a ‘Long Way’ Off
Michael Barr, who leads the central bank’s regulatory efforts, said the Fed remains in the basic research phase and would need actual legislation from Congress to authorize the move.
What the Federal Reserve's 'FedNow' Instant Payment System Could Mean for Crypto
The U.S. Federal Reserve launched a new instant payment service called FedNow. The central bank has also denied it is tied to any digital U.S. dollar initiative. Aaron Klein, Brookings Institution senior fellow in economic studies and former deputy assistant secretary for economic policy at the Treasury Department, shares insights into the FedNow system and its significance to the crypto sector.
Christopher Giancarlo: Fight for the Future of Money in the U.S.
Christopher Giancarlo, the former chair of the CFTC, also known as ‘Crypto Dad’ said the U.S. is resisting digitization of the dollar due to it being a threat to the country’s dominance over the traditional financial system. Central Bank Digital Currencies or CBDCs are the future of money and countries that resist innovation will become irrelevant in the global financial landscape, said Giancarlo who is also the founder of the Digital Dollar Project. In a Word on the Block interview with Forkast Editor-in-Chief Angie Lau, Giancarlo expressed his disappointment over Washington’s hostility towards cryptocurrencies. His comments come in light of the recent enforcement actions against crypto by the U.S. Securities and Exchange Commission.
The Reactionary Political Theater of CBDC Bans
The jury is out on whether the benefits outweigh the risks of central bank digital currencies, but stymying research and passing premature legislation comes with its own harms.
North Carolina House Unanimously Votes to Ban Digital Dollar Payments to the State
The House of Representatives of the U.S. state voted 118-0 to pass an amended version of a bill that initially sought to ban crypto payments.
Just Saying No to Digital Dollars Means Cementing the Surveillance Status Quo
Political attacks on CBDCs give a pass to existing government and commercial oversight of financial transactions and forfeits opportunity to shape global standards in accord with American values, says Christopher Giancarlo, co-founder of the Digital Dollar Project.
Senior U.S. House Republican Says CBDCs Could Be ‘Weaponized’ as Political Tool
Majority Whip Tom Emmer is seeking to halt the Federal Reserve’s ability to issue a new digital dollar.
