Fed Governor Brainard Identifies Libra Threat, Says Regulatory Hurdles Abound
Federal Reserve governor Lael Brainard delivered a sharp critique of Libra, which would need to resolve many regulatory hurdles before going live.
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.
Lael Brainard said in a speech the Federal Reserve is looking at digital ledger use cases including for a possible central bank digital currency.
The Federal Reserve is actively investigating the potential impact of a digital dollar, though it has no plans to issue one anytime soon.
Federal Reserve governor Lael Brainard has warned that the Facebook-led Libra project faces stiff regulatory challenges and that there's a question mark over one of its core concepts.
Stephen Moore, whose failed bid to join the Fed imploded within months, has a new plan to disrupt global finance: a fractional reserved-backed stablecoin.