Fed will lead a question of launching a digital dollar for public discussion

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The chairman of the Federal Reserve System by Jerome Powell said that in 2021, the US Central Bank will begin to discuss the launch of the Digital Dollar with the public.

Talking about the prospects of a new form of money in Congress, he said that the project is associated with a massive concern, so this year the Fed plans to start a wide discussion of his concept. The Central Bank will hold a number of advisory measures, the main purpose of which will be the identification of real defects of the innovative system, and not a discussion of its idea itself.

Powell added that at present the project team is engaged in solving technical and political problems, as well as exchange experience with other central banks developing or studying CBDC.

At the same time, it does not exclude that due to the potential impact of the digital dollar on other markets, first, the developments will need to coordinate with the legislators.

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