Federal Reserve of the United States listed central bank digital currencies (CBDCs) among its “key duties” In a document that was presented to Congress members.
Tom Emmer from Minnesota is the House Majority Leader. says Fed officials gave his staff a paper titled “The Fed’s View on the Federal Reserve” during Congressional sessions. “Key Duties of the Fed – Payment Systems.”
“If you don’t think the Fed is pursuing a CBDC, think again… They view a CBDC as one of their KEY DUTIES.”
Emmer, an outspoken crypto-supporter CBDC skeptic Who once claimed that digitalized fiat currency would only be a government spying tool? financial Transactions didn’t add any context to the Fed document
While speaking to Congress in the last week, Fed chair Jerome Powell said He had no intention of launching a CBDC any time soon.
We’re not advocating or advocating the adoption of a digital currency by a central banking system in any way, shape, or form. But we do believe that as technology evolved, so has money.
They’re digital. They’re digital. It was thought that the government would create a form of digital currency that individuals could use to transfer money amongst themselves.
Powell says that the Fed also does not support a CBDC which would allow government access to people’s financial transactions.
“That’s just something we would not stand for or do or propose here in the United States. That is how it works in China, for example.”
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