Digital Dollar Poses “Significant Risks” To Consumer Privacy, Financial System: Fed Governor Admits
By Andrew Moran The creation of a central bank digital currency (CBDC) presents “significant risks” for the financial system and consumer privacy, says Federal Reserve Governor Michelle Bowman. Appearing at a Harvard Law School Program on International Financial Systems roundtable on Oct. 17, Ms. Bowman conceded that the benefits of a digital dollar are uncertain and that there could be “unintended consequences” for the banking sector. “The potential benefits of a U.S. CBDC remain unclear, and the introduction of a U.S. CBDC could pose significant risks and tradeoffs for the financial system,” she said in prepared remarks. “These risks and...
By Andrew Moran The creation of a central bank digital currency (CBDC) presents “significant risks” for the financial system and consumer privacy, says Federal Reserve Governor Michelle Bowman. Appearing at a Harvard Law School Program on International Financial Systems...
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