The digital currency report, which has been expected for months from the USA, can be announced in a few weeks.
Fed Chairman Powell said in front of Senate Banking Committee members, “The digital currency report is ready. We expect it to be published in the coming weeks.” said.
The report in question was expected to be published in the summer of last year, but it was delayed. “The publication of the report has been delayed due to other priorities,” Powell said.
Powell also stated that the purpose of the digital currency report is not to take a position against these assets, but to provide feedback from the public.
What will the report include?
A legal regulation is expected to legalize and control cryptocurrencies. In his statements, the Fed says that he is not against cryptocurrencies, but that he should enter into a regulation. In the coming days, the content of the legal regulation will be revealed more clearly.
The report states that the benefits and risks of central bank digital currencies (CBDC) will be discussed. In the country, both politicians and Fed members have been debating for a long time whether a digital currency should be issued. It is noted that Fed members are divided into two about such a project, and there are negative views as well as positive ones.