Key Highlights from Fed's Report on Digital Dollar

.federalreserve has released its much-anticipated report on the digital dollar

The Fed is yet to make a decision whether or not it will move forward with the development of a digital version of the U.S. dollar, but the 40-page paper, which was originally announcedIn his statement, Chairman Jerome Powell says that the Fed is open to discussing the matter with a wide range of stakeholders, the general public and electric representatives.The paper appears to suggest that the launch of the CBDC would help to preserve the U.S.

The Fed would not be responsible for offering wallets if the digital dollar were to be launched. The report says that the CBDC would be “privacy-protected” and “identity-verified”: The central bank underscored the significance of the innovation, claiming that it could fully reshape the structure of the U.S. financial system:

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