The Fed's CBDC report

The Federal Reserve isn’t in a rush to join the crypto-bandwagon. That's the takeaway from a draft paper the Fed released Thursday laying out the pros and cons of a Central Bank Digital Currency (CBDC).

The 40-page report makes no policy recommendations and is designed to solicit comments from the public.

"We look forward to engaging with the public, elected representatives, and a broad range of stakeholders as we examine the positives and negatives of a central bank digital currency in the United States," Federal Reserve Chair Jerome Powell said in a press release last Wednesday.

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