Fed Vice Chairman Brainard said we should play a key role in setting global standards, with recent volatility in the Stablecoin market showing the need for regulation and no decision yet on issuing a central bank digital currency (CBDC).
The risk of a global recession has increased, and the possible impact on the U.S. dollar in the absence of a U.S. central bank digital currency (CBDC) should be assessed.
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A digital financial system requires clear regulatory guardrails. The U.S. dollar central bank digital currency (CBDC) is a way to ensure that the U.S. dollar continues to be used globally. New digital currencies such as Stablecoins can lead to counterparty risks. Private funds can create consumer protection and financial stability risks. .
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