Fed calls central bank digital coin a ‘highly significant innovation’ in white paper

Fed calls central bank digital coin a

The Federal Reserve on Thursday issued its long-awaited paper exploring the benefits and negatives of a central bank digital currency (CBDC), as the debate over cryptocurrency regulation hits its stride.

The Fed laid out a list of pros and cons associated with adopting a CBDC, but did not come to any formal conclusion on doing so. The move comes as countries like China press forward with their own digital currency plans, and in the midst of a wide-ranging debate on how cryptocurrencies are transforming the financial sector — and how they should be regulated.

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