(OP)inions Fed explores digital currency

January 21, 2022 

The Fed is making further progress on the possible issuance of a U.S. digital currency, a move that they said could dramatically alter the American financial system.  

On Thursday they requested feedback through a 35-page discussion paper on a government-backed coin, known as a central bank digital currency or CBDC.

As expected, the central bank made no firm conclusions on whether the U.S. should issue a digital dollar and said it didnt intend to proceed without clear backing from the White House and Congress. 

“The introduction of a CBDC would represent a highly significant innovation in American money,” the Fed said in the paper. 

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