Federal Reserve chair Jerome Powell says the U.S. is a “long way” from launching one, and even if it did, it wouldn’t spy on users.
The United States is “nowhere near” any form of central bank digital currency (CBDC) and even if it was, the central bank has no interest in one that surveils users, says Federal Reserve chair Jerome Powell.
“I want to say that we’re nowhere near recommending or let alone adopting a central bank digital currency in any form,” Powell said in a March 7 hearing before the Senate Committee on Banking, Housing, and Urban Affairs.
It comes the same day as Hong Kong’s central bank launched a new push for a wholesale CBDC and days after geopolitical bloc BRICS reportedly started work on a blockchain-based payments system.
