U.S. Treasury, Federal Reserve and White House officials will begin regular discussions on CBDC issues
On March 2, U.S. Treasury Undersecretary Nellie Liang said in a speech at the Atlantic Council in Washington that officials from the U.S. Treasury, the Federal Reserve and the White House "will begin meeting regularly" to discuss a possible central bank digital currency (CBDC). The CBDC working group led by the Treasury Department will further study this issue, but the Federal Reserve remains in the leading research role and "will only issue CBDC with the support of the executive branch and Congress and the broader public."
In addition, Nellie Liang said that CBDC can be retail or wholesale. Financial institutions that are already qualified to obtain a central bank account can use wholesale CBDC, and retail CBDC will be cash.
On March 2, U.S. Treasury Undersecretary Nellie Liang said in a speech at the Atlantic Council in Washington that officials from the U.S. Treasury, the Federal Reserve and the White House "will begin meeting regularly" to discuss a possible central bank digital currency (CBDC). The CBDC working group led by the Treasury Department will further study this issue, but the Federal Reserve remains in the leading research role and "will only issue CBDC with the support of the executive branch and Congress and the broader public."
In addition, Nellie Liang said that CBDC can be retail or wholesale. Financial institutions that are already qualified to obtain a central bank account can use wholesale CBDC, and retail CBDC will be cash.