A digital dollar should be "actively explored," former Commodity Futures Trading Commission (CFTC) Chairman Timothy Massad told CoinDesk TV.
- "I'm glad to see that the [Federal Reserve] is doing that," Massad said during CoinDesk TV's "First Mover" on Wednesday.
- He added there are multiple design choices and other issues to think about in terms of maintaining users' privacy, noting, "We're not China."
- Like almost all major economies, the U.S. is exploring the development of a central bank digital currency (CBDC), though for the time being all plans remain in the discussion phase.
- One potential design choice is for the Fed to build a digital dollar operating platform on which private institutions can build applications, Massad suggested.
- "That's attractive because innovation is always going to come more from the private sector than the government," he said.
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