BREAKDOWN: The Federal Reserve Has Its ‘Come to Satoshi’ Moment

Shifting a stance of mostly ignoring CBDCs, a Federal Reserve governor says the Fed is now actively studying the possibility of a US digital currency.

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That’s the way Meltem Demirors described Federal Reserve Governor Lael Brainard’s remarks at Stanford yesterday. For the first time, the Fed has said that it is actively researching and experimenting around digital currencies and distributed ledger technologies. This is a change in tone from a Fed that, when asked previously, has more or less dismissed digital currencies.

On this episode, @nlw looks at Brainard’s speech, along with: the latest from Japanese lawmakers proposing a digital currency to counteract the influence of a forthcoming Chinese digital yuan; a Bank for International Settlements digital currency working group with 6 major central banks; and the potential implications of CBDCs on bitcoin.