[ad_1]
Jerome Powell, chairman of the Federal Reserve Board (US Central Bank), said today, Monday, that the board will not proceed with the implementation of a digital currency for the central bank without congressional approval, and that current studies on the subject focus on the risks and benefits, not on the creation of a prototype.
Powell added, when asked at a conference hosted by the Bank for International Settlements on the legality of the central bank creating a digital currency, “We will not move forward without the support of Congress” and enact the necessary laws. .
He said cooperation with MIT’s digital currency initiative “focuses on the capabilities and limitations of the technologies, not an attempt to prototype. Let’s try to lay the groundwork and see what we learn.” “
Source link
