Jerome Powell, the Fed Chair, expressed doubts about implementing a CBDC in the US soon. He assured no direct Fed accounts in CBDC plans and stated that a US CBDC wouldn't spy on Americans. Powell mentioned that stable coins backed by US Treasuries could become legal tender. JPMorgan noted that Bitcoin is influencing Powell's decisions.
U.S. Fed Chair Powell Says 'Nowhere Near' Pursuing CBDC, Won't Spy on Americans The Federal Reserve chairman said his agency isn't anywhere close to making any recommendations and wouldn't want any direct connection to retail users' data. π and finally, he pulled the reverseβ¦ https://t.co/wPMaEUwKQQ
Bitcoin is now influencing Jerome Powell says @jpmorgan π https://t.co/3CaBby9AYa
Fed Chair Jerome Powell told senators that a U.S. CBDC wouldn't be designed to spy on Americans https://t.co/QhiwBbADCo https://t.co/HIoMN6ihOp
NEW: Jerome Powell expresses doubts about the viability of a CBDC in the πΊπΈ US π https://t.co/LA9CkmZGYw
Powell Assures No Direct Fed Accounts in #CBDC Plans, Seeks Congressional Go-Ahead https://t.co/RcrjFfOa2A
Jerome Powell the Fed Chair announces CBDC unlikely to be Implemented in the US soon. IMO: Stable coins backed by US Treasuries will become legal tender.