Is there a Central Bank Digital Currency in the US Federal Reserve’s future?

Colleagues, central banks of developed and developing nations around the world are assessing the viability of launching their own cryptocurrencies (CBDC). Central banks are notoriously conservative and adverse to systemic change. The US Fed is no different. Despite former US FDIC Chair’s Sheila Bair advocacy that the central bank should at least ‘consider’ issuing as US CBCD, Fed Chair Jerome Powell and Governor Lael Brainard have raised major concerns. Issues such as money-laundering, security of distributed ledgers, investor protection and in many cases the pure “speculative” nature of the crypto world order are all red flags from the US Fed’s perspective. Simultaneously the relentless growth in the number and value of cryptocurrencies worldwide continue at a breakneck pace. We at the Cryptocurrency Academy fully understand and respect the US Fed’s well-founded reluctance to introduce unproven competition to its fiat currency. Our prediction is that in 3-5 years we anticipate the US Fed’s posture toward a US CBDC will be much more favorable. Bottom line: For central banks – at home and abroad – CBDCs will simply become an idea whose time has come. Leave a comment and subscribe today! Lawrence, Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com)