Central Bank Digital Currency Gains Traction in the US, Sparking Debate on Regulations, Consumer Protections
TAMPA, Fla., Sept. 13, 2023 /PRNewswire-PRWeb/ -- As digital currencies gather momentum, central banks around the world are exploring the potential advantages of implementing a central bank digital currency (CBDC). The U.S. Federal Reserve is no exception to this trend.
- TAMPA, Fla., Sept. 13, 2023 /PRNewswire-PRWeb/ -- As digital currencies gather momentum, central banks around the world are exploring the potential advantages of implementing a central bank digital currency (CBDC).
- A central bank, like the U.S. Federal Reserve, oversees a country's currency, monetary policy, and commercial banking system.
- The concept behind a CBDC is to introduce a digital form of fiat currency that is issued and regulated by a central bank.
- One such lawmaker is Senator Ted Cruz, who reintroduced a March bill prohibiting the Federal Reserve from developing a direct-to-consumer central bank digital currency.