CoinInsight360.com logo CoinInsight360.com logo
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Crypto Potato 2025-02-11 23:20:12

Fed Chair Jerome Powell Says No To US CBDC

Federal Reserve Chair Jerome Powell has made it clear that the United States will not introduce a Central Bank Digital Currency (CBDC) during his tenure. This stance marks a notable shift from earlier considerations where the Federal Reserve had been exploring the potential of a digital dollar. No CBDC For The United States, Powell Confirms This declaration came during a recent Senate Banking Committee hearing on Tuesday when Powell responded to a direct question from Senator Bernie Moreno (R-OH). “Can I have your commitment that as long as you’re the chair of the Federal Reserve system, that we will never have a central bank digital currency?” Moreno asked. “Yes,” Powell responded. The Fed’s previous research on CBDCs aimed at understanding how such a currency might improve the current payment system’s efficiency and safety. Critics of CBDCs, including the Cato Institute’s Nicholas Anthony, have praised Powell’s commitment, citing potential risks to financial freedom, privacy, and market stability. Unlike decentralized cryptocurrencies like Bitcoin, a CBDC would be government-issued and regulated, potentially leading to concerns over surveillance due to its trackable nature. This announcement comes at a time when several countries are actively experimenting with their own digital currencies. Notably, China’s digital yuan pilot started in 2020, with other nations like Russia, Turkey, and Japan also exploring similar initiatives. Republicans Stopping CBDCs Powell’s firm stance highlights a divergence in U.S. policy compared to these global trends, especially under the current U.S. administration led by President Trump. Senator Moreno specifically praised Powell’s stance since it meant the U.S. wouldn’t wind up “looking like China” in any way. The debate around CBDCs in the U.S. has seen significant political pushback, especially from Republican lawmakers who have called for bans on government-issued digital currencies. Last year, the House of Representatives passed a bil l from Congressman Tom Emmer to ban the Federal Reserve from issuing a CBDC. In his recent crypto executive order , President Donald Trump also prohibited Federal agencies from attempting to promote or issue a CBDC. Powell’s clear statement might provide some relief to those concerned about the implications of CBDCs on personal freedoms and privacy. The post Fed Chair Jerome Powell Says No To US CBDC appeared first on CryptoPotato .

Lesen Sie den Haftungsausschluss : Alle hierin bereitgestellten Inhalte unserer Website, Hyperlinks, zugehörige Anwendungen, Foren, Blogs, Social-Media-Konten und andere Plattformen („Website“) dienen ausschließlich Ihrer allgemeinen Information und werden aus Quellen Dritter bezogen. Wir geben keinerlei Garantien in Bezug auf unseren Inhalt, einschließlich, aber nicht beschränkt auf Genauigkeit und Aktualität. Kein Teil der Inhalte, die wir zur Verfügung stellen, stellt Finanzberatung, Rechtsberatung oder eine andere Form der Beratung dar, die für Ihr spezifisches Vertrauen zu irgendeinem Zweck bestimmt ist. Die Verwendung oder das Vertrauen in unsere Inhalte erfolgt ausschließlich auf eigenes Risiko und Ermessen. Sie sollten Ihre eigenen Untersuchungen durchführen, unsere Inhalte prüfen, analysieren und überprüfen, bevor Sie sich darauf verlassen. Der Handel ist eine sehr riskante Aktivität, die zu erheblichen Verlusten führen kann. Konsultieren Sie daher Ihren Finanzberater, bevor Sie eine Entscheidung treffen. Kein Inhalt unserer Website ist als Aufforderung oder Angebot zu verstehen