US Federal Reserve Looking to Hire a Manager to Research Stablecoins and CBDCs

Fed Chair Jerome Powell has said the central bank needs “better regulatory answers” for global stablecoins.

AccessTimeIconJan 29, 2021 at 10:10 p.m. UTC
Updated Sep 14, 2021 at 11:03 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

The U.S. Federal Reserve is looking for a manager of digital innovations who will assess the pros and cons of stablecoins and central bank digital currencies *CBDC).

  • In a LinkedIn job posting, the Fed said the prime candidate would be looking into the impact of digital innovations on its “operation and oversight of financial services, and the supervisory and regulatory framework of emerging payments platforms, activities and institutions.”
  • The job posting follows comments earlier in January by Fed Chairman Jerome Powell at a Princeton University event where he said the Fed would focus on “better regulatory answers” for global stablecoins.
  • At the end of last year, then-President Trump’s Working Group on Financial Markets released a report that said stablecoins should meet the same regulatory standards as other aspects of the financial system.
  • At the Princeton event, Powell also said the Fed wasn’t concerned with being first in the CBDC race. The chairman added that the U.S. dollar’s status as the world reserve currency already gave it a “first-mover advantage.” 

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.