Federal Reserve Governor: The instant payment system FedNow can solve the problem of CBDC demand

[Federal Reserve Director: The instant payment system FedNow can solve the problem of CBDC demand] On August 18th, Fed Governor Michelle Bowman expressed in a speech that she had objections to the financial technology and encryption industries. A CBDC, which he believes FedNow can address concerns some have raised about the need for a CBDC, also took a stab at the crypto industry's hopes for banks to use crypto assets, warning that there is more to come from the recent guidance on the Federal Reserve's "master account" requirements. Lots of work to do.

The FedNow service is a new instant payment service being developed by the Federal Reserve Bank of the United States, enabling financial institutions of all sizes in every community in the United States to provide efficient instant payment services in real time, around the clock, all year round.

Other news:

Vice Chairman of the Federal Reserve: We should play a key role in setting global standards for cryptocurrencies: Jinse Finance reported that Federal Reserve Vice Chairman Brainard said that we should play a key role in setting global standards. The recent volatility in the stablecoin market shows the need for regulation However, no decision has been made on the issuance of a central bank digital currency (CBDC), the risk of a global recession has increased, and the possible impact on the US dollar in the absence of a US central bank digital currency (CBDC) should be assessed. A digital financial system needs clear regulatory guardrails. A US central bank digital currency (CBDC) is one way to ensure continued global use of the US dollar. Newer digital currencies such as stablecoins could lead to counterparty risk. Private money could create risks to consumer protection and financial stability. . [2022/5/26 3:42:17]

Voice | Morgan Creek co-founder: There are rumors that the Federal Reserve will announce a plan to digitize the U.S. dollar: Golden Finance reported that Anthony Pompliano, co-founder of blockchain venture capital fund Morgan Creek, tweeted today that there are rumors that the Federal Reserve plans to announce a plan to digitize the U.S. dollar. The plan to digitize the U.S. dollar is similar to China's efforts to digitize the yuan. Regardless of whether the rumors are true or not, the Fed should absolutely digitize the dollar, Pompliano said. The rumor is completely different from what the top U.S. regulator said last month. In early December, Federal Reserve Chairman Jerome Powell and U.S. Treasury Secretary Steven Mnuchin, who called bitcoin and cryptocurrencies a national security threat, both said there was no need for a digital dollar. [2020/1/16]

Voice | Federal Reserve Bullard: Anti-money laundering is a non-negotiable part of cryptocurrency regulation: Fed Bullard said that anti-money laundering is a non-negotiable part of cryptocurrency regulation. (Golden Ten) [2019/9/17]