CBDC will co-exist with stablecoins, but it will take at least 5 years to launch
Fed Vice President Lael Brainard of the US Federal Reserve said the Digital Dollar (CBDC) would take 5 years to launch, and it will co-exist with stablecoins.
CBDC – the central bank’s digital currency.
Federal Reserve Vice Chairman Lael Brainard has offered a reality check on those waiting for a digital dollar, saying that creating a central bank digital currency (CBDC) in the US will likely take up to 5 years.
Brainard says that a central bank digital currency (CBDC) could exist alongside stablecoins and provide a measure of safety. Brainard’s comments were part of their testimony before appearing before the House Financial Services Committee.
“I see the potential of the digital dollar as a complement to a more efficient, stable system of stablecoins and commercial bank money, so I see them having the potential to facilitate for private sector innovation,”
Brainard said
The Federal Reserve recently polled on the advisory capacity of establishing a CBDC. Wall Street bankers have expressed concern that a US CDBC could disrupt the banking system, while Circle, the issuer of the USDC stablecoin, said a federal stablecoin could disrupt its tokens Private area.
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CBDC will co-exist with stablecoins, but it will take at least 5 years to launch
Fed Vice President Lael Brainard of the US Federal Reserve said the Digital Dollar (CBDC) would take 5 years to launch, and it will co-exist with stablecoins.
CBDC – the central bank’s digital currency.
Federal Reserve Vice Chairman Lael Brainard has offered a reality check on those waiting for a digital dollar, saying that creating a central bank digital currency (CBDC) in the US will likely take up to 5 years.
Brainard says that a central bank digital currency (CBDC) could exist alongside stablecoins and provide a measure of safety. Brainard’s comments were part of their testimony before appearing before the House Financial Services Committee.
“I see the potential of the digital dollar as a complement to a more efficient, stable system of stablecoins and commercial bank money, so I see them having the potential to facilitate for private sector innovation,”
Brainard said
The Federal Reserve recently polled on the advisory capacity of establishing a CBDC. Wall Street bankers have expressed concern that a US CDBC could disrupt the banking system, while Circle, the issuer of the USDC stablecoin, said a federal stablecoin could disrupt its tokens Private area.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
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