Yesterday the U.S. Federal Reserve published its long-awaited paper on central bank digital currency (CBDC). Positioned as a basis for seeking public input – it lists numerous questions – the document went out its way to be neutral. The central bank has not committed to issuing a digital dollar.
One of the few positions taken in the paper was to outline a broad list of criteria, which placed consumer privacy above protecting against criminal activity. But only just. It’s entirely possible that the order was random, but the message is privacy is important.
On that note, the paper states that there’s a need to balance “safeguarding the privacy rights of consumers and affording the transparency necessary to deter criminal activity.”
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
