Fed Will Only Issue Digital Currency With Support From White House, Congress: Treasury Official
The Federal Reserve will only issue a central bank digital currency (CBDC) with the support of the White House and Congress, says Nellie Liang, Under Secretary of Treasury for Domestic Finance.
Liang joined a discussion at the Atlantic Council’s GeoEconomics Center about the future of money and payments, including cryptocurrency, stablecoins, and CBDCs.
It has been one year since President Joe Biden signed an executive order encouraging the Federal Reserve to explore a CBDC and determine if researching and developing a digital dollar would be in the national interest. The United States has joined 100 other nations that have launched projects surrounding a digital version of a country’s currency….