Fed Chair Powell: Digital Dollar Would Need Stronger Privacy Than Digital Yuan
“The lack of privacy in the Chinese system is just not something we could do here,” Powell told a House committee.
Thiel's comments about China “weaponizing” bitcoin to hurt the U.S. are a warning about the cost of inaction.
The greenback has something else going for it cryptocurrencies don't: the bond market, notes Marc Chandler.
The deputy governor said bitcoin and stablecoins were investment options and not currency during the Boao Forum on Sunday.
"Digital nature alone" will not be enough to give any one CBDC an edge as an international reserve asset, the BIS general manager asserts.
In order to support the retail payment system, the central bank has to step up its own digital yuan.