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Fed releases long-awaited study on a digital dollar but doesn’t take a position yet on creating one

CNBC: “The Federal Reserve on Thursday released its long-awaited study of a digital dollar, exploring the pros and cons of the much-debated issue and soliciting public comment. Billed as “the first step in a public discussion between the Federal Reserve and stakeholders about central bank digital currencies,” the 40-page paper shies away from any conclusions about a central bank digital currency, or CBDC. The report originally was expected in the summer of 2021 but had been delayed. Instead, it provides an exhaustive look at benefits such as speeding up the electronic payments system at a time when financial transactions around the world already are highly digitized. Some of the downside issues the report discusses are financial stability risks and privacy protection while guarding against fraud and other illegal issues…”

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