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MNI BRIEF: Fed's Brainard - Important US Lead CBDC Standards

(MNI) Washington

Federal Reserve Vice Chair Lael Brainard said in written testimony to Congress digital currency from the U.S. central bank is one strategy to assure the dollar's global use.

"More broadly, it is important for the United States to play a lead role in the development of standards governing international digital finance transactions involving CBDCs consistent with the norms of privacy, accessibility, interoperability, and security," she said in prepared remarks released before a Congressional hearing Thursday.

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Federal Reserve Vice Chair Lael Brainard said in written testimony to Congress digital currency from the U.S. central bank is one strategy to assure the dollar's global use.

"More broadly, it is important for the United States to play a lead role in the development of standards governing international digital finance transactions involving CBDCs consistent with the norms of privacy, accessibility, interoperability, and security," she said in prepared remarks released before a Congressional hearing Thursday.

Keep reading...Show less