Through the "slow and steady" adoption of CBDCs, central banks can ensure their place in the competitive arena of digital money, Digital Euro Association Chairman Jonas Gross...
The Federal Reserve continues to pilot a central bank digital currency, but will not issue one without executive branch and Congressional support, the report said.
Vice Chairman Michael Barr argued that the Fed needs regulatory and enforcement authority over stablecoin issuers – a point of contention in the debate over legislation.
Many of the respondents outlined concerns around privacy, programmability and the decline of cash, Jon Cunliffe, deputy governor of the Bank of England said.