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Creation Of A CBDC Not Important For The Long-Term Status Of The US Dollar, Says Fed Board Member ⋆ ZyCrypto

Mount Equity Group Tokyo Japan > News > Markets > Creation Of A CBDC Not Important For The Long-Term Status Of The US Dollar, Says Fed Board Member ⋆ ZyCrypto

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Creating a US Central Bank Digital Currency (CBDC) before other major jurisdictions is not essential for the long-term status of the US Dollar. This is the personal opinion of Governor Christopher J. Waller, a member of the Board of Governors of the Federal Reserve System, while speaking at the “Digital Currencies and National Security Tradeoffs” symposium at Cambridge, Massachusetts, on October 14, 2022.

According to the Atlantic Council, 105 countries, representing over 95 percent of global GDP, are exploring a CBDC, ten countries have fully launched a digital currency, 19 of the G20 countries are exploring a CBDC, with 16 already in development or pilot stage, and many countries are exploring alternative international payment systems.

China was the first major economy to pilot the digital Yuan in 2020. The pilot of the digital Yuan has been conducted in many…

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