Fed Chairman Jerome Powell said in a speech at the Bank for International Settlement panel that the Fed is not at the decision stage regarding the central digital currency project.
“A digital dollar would probably have big consequences,” said Powell, adding that the Fed does not have to be a pioneer in centralized digital currencies.
According to a report in BloombergHT, Powell stated that Central digital currencies offer various benefits but also have a high quality risk, and stated that they will not progress in the central digital money project without the approval of the US Congress.
Powell also mentioned that crypto assets are highly volatile and speculative.
Decline in TL increased searches for Bitcoin on the internet
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