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Fed Chair Powell Says Facebook's Libra 'Really Lit A Fire' On The Question Of A Digital Dollar
Summary: Jerome Powell, chairman of the U.S. Federal Reserve, when inquired about the progress of central bank digital currencies replied that there are many projects going underway concerning that topic, reports The Block Crypto. Powell notes that the Libra, "really lit a fire" on how widespread such an idea could be, especially when promoted on big ...
Jerome Powell, chairman of the U.S. Federal Reserve, when inquired about the progress of central bank digital currencies replied that there are many projects going underway concerning that topic, reports The Block Crypto. Powell notes that the Libra, "really lit a fire" on how widespread such an idea could be, especially when promoted on big tech networks.
Powell admits that the Fed did not start on the creation of a digital dollar, because there are many questions that need to be addressed in concern of privacy, cyber issues, etc. Both he and the U.S. Treasury secretary, Steven Mnuchin, believe there is no need for a digital currency within the next five years.
By Claudia Rivera
Tags: CENTRAL BANK DIGITAL CURRENCIES,Facebook,Fed,Libra,POWELL,THE BLOCK
Link: Fed Chair Powell Says Facebook's Libra 'Really Lit A Fire' On The Question Of A Digital Dollar [Copy]
