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Fed’s Lael Brainard urges Congress to choose to compete with Chinese digital yuan

January 14, 2022
Source: thebharatexpressnews.com thebharatexpressnews.com
News Snapshot:
During his confirmation hearing before members of the Senate Banking Committee, Lael Brainard, a member of the Federal Reserve Board of Governors, said Congress would ultimately have to decide whether to move forward with a digital bank currency. central, or CBDC. Speaking to pro-crypto Senator Cynthia Lummis at the Dirksen Senate Office Building on Thursday, Brainard said the Fed would welcome Congress “playing a very important role” in updating the regulatory framework for cryptocurrencies and digital assets. Asked about the possible use of CBDCs to monitor users’ financial activities — as Lummis alleged in China — Brainard again deferred the...
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Tags: ban | bank | banking | Biden | bitcoin | blockchain | boycott | BTC | China | Chinese | Congress | crypto | currency | Dollar | E-CNY | education | finance | fintech | Renminbi | retail | senate | technology | United States | university | Yuan

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