The Federal Reserve is looking at a broad range of issues around digital payment...
PALO ALTO, Calif. - The Federal Reserve is looking at a broad range of issues around digital payments and currencies, including policy, design and legal considerations around potentially issuing its own digital currency, Governor Lael Brainard said on Wednesday.
“By transforming payments, digitalization has the potential to deliver greater value and convenience at lower cost,” Brainard said at a conference on payments at the Stanford Graduate School of Business. She did not touch on interest rates or the current economic outlook. Central banks globally are debating how to manage digital finance technology and the distributed ledger systems used by bitcoin, which promises near-instantaneous payment at potentially low cost.
Dozens of central banks globally are also doing such work, a recent international study showed, with China moving ahead on plans to issue a digital coin. At Wednesday’s conference, Brainard said the Facebook Libra project “imparted urgency” to the conversation around digital currencies. “We are collaborating with other central banks as we advance our understanding of central bank digital currencies,” she said.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fed looking into central bank digital coins, Brainard saysThe Federal Reserve is looking at a broad range of issues around regulations and...
Read more »
Australia central bank looks to rid Visa, Mastercard of debit payments edgeAustralian regulators will consider intervening to stop banks from automatically...
Read more »
Australia central bank governor says jobs key for further rate cutsAustralia's central bank would see a stronger case for cutting its benchmar...
Read more »
Singapore central bank says policy stance unchanged as virus hits economySingapore's central bank said its exchange rate-based monetary policy stanc...
Read more »
BOJ deputy governor says vigilant against coronavirus impact on global tradeBank of Japan Deputy Governor Masazumi Wakatabe said on Wednesday the central ba...
Read more »
Stimulus hopes, virus containment steps lift world stocksExpectations of more central bank stimulus lifted world stocks to their highest ...
Read more »