Fed: Central bank digital currency will complement, not replace, existing digital payment methods

On January 21, the Federal Reserve released a white paper on digital currency: without explicit support from the executive branch and Congress, it does not intend to continue to issue central bank digital currency. The most ideal form is to have specific authorization laws; central bank digital currency will supplement and Non-replacement of existing digital payment methods; central bank digital currency can fundamentally change the structure of the US financial system, changing the roles and responsibilities of the private sector and the central bank; solicit public comments on more than 20 central bank digital currency-related issues for a period of 120 days.

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