Brainard Bullish On FedNow, Fed-Backed Crypto Needs Time

Law360 (February 5, 2020, 10:57 PM EST) -- The Federal Reserve is moving full steam ahead to launch a real-time payments service, but the potential for a central bank digital currency is still in the experimental phase and many structural questions about potential risks remain, Fed board member Lael Brainard said Wednesday.

Speaking at the Symposium on the Future of Payments hosted by the Stanford Graduate School of Business, Brainard reiterated the Fed's commitment to launch the FedNow service. In parallel, the U.S. central bank is taking a deep look at the structural, legal and practical implications of launching a central bank digital currency, or CBDC, based on distributed...

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