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Fed Chair Powell: Central Bank Digital Currencies (CBDCs) Must Be Verifiable, Ensure Privacy

March 23, 2022
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Federal Reserve Chairman Jerome Powell said existing regulations do not take digital currencies into account. There must be new rules, laws and frameworks to deal with digital currencies. We don’t know how some digital products will perform under market pressure.

We have not made any decisions on central bank digital currencies. We are actively researching the benefits and costs of central bank digital currencies. Central bank digital currencies (CBDCs) must be verifiable to ensure privacy.

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