The Federal Reserve Plans to Have a Report on Digital Currencies Ready in Q3

CoinDesk reported that U.S. Federal Reserve chair Jerome Powell said Wednesday that his agency plans to publish a report exploring central bank digital currencies (CBDCs), stablecoins,and cryptocurrencies writ large sometime in September.

The Federal Reserve says CBDC “is a generic term for a third version of currency that could use an electronic record or digital token to represent the digital form of a nation’s currency” that would be managed by the central bank and “could be used for a variety of purposes by individuals, businesses, and financial institutions.”

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