Fed’s Powell Says Central Bank Digital Currencies Have “Substantial Issues”

Crypto enthusiasts expecting the Federal Reserve to issue its own token might have a wait ahead. During a forum organized by the Swiss Institute of International Studies, Fed chief Jerome Powell said consumers were not “clamoring” for central bank-backed digital currencies (CBDC). “For us, (CBDC) raises substantial issues that we want to see resolved,” he… Read More Fed’s Powell Says Central Bank Digital Currencies Have “Substantial Issues”

Fed Plans to Introduce Real-time Payments Service Targeted At Small Banks

The Federal Reserve is planning to use blockchain technology to develop a real-time payments and settlement service. The new initiative is called FedNow. It will support payment transfers for up to $25,000 and is scheduled for launch by 2024. “FedNow will permit banks of every size in every community across the country to provide real-time… Read More Fed Plans to Introduce Real-time Payments Service Targeted At Small Banks