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 .

Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta