Circle Advises the U.S. Federal Reserve Not to Issue Central Bank Digital Currency

$USDC issuer Circle published an open letter in response to the U.S. Federal Reserve’s discussion paper on the potential impact of a central bank digital currency (CBDC). Circle says that the risks of a U.S. CBDC outweigh the potential benefits, which are already being met by existing private-sector, open blockchain-based payment innovations like $USDC. A U.S. CBDC would take years to create, but would not be superior to $USDC. Circle also addresses that a CBDC would stifle innovation, exacerbate financial inclusion and access, and threaten the existing banking system.
Source

Circle

Policy and Regulation

In This Article

Related News
Daily Market Wrap | Oct. 15 Daily Market Wrap | Oct. 15
Daily Market Wrap | Oct. 14 Daily Market Wrap | Oct. 14
Daily Market Wrap | Oct. 13 Daily Market Wrap | Oct. 13
Daily Market Wrap | Oct. 11 Daily Market Wrap | Oct. 11
Daily Market Wrap | Oct. 10 Daily Market Wrap | Oct. 10
Latest News More More
5 Days Ago Daily Market Wrap | Oct. 09
6 Days Ago Daily Market Wrap | Oct. 08
Oct 7 Daily Market Wrap | Oct.7
Oct 3 Daily Market Wrap | Oct.3
Oct 2 Daily Market Wrap | Oct.2
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open