The United States could launch its digital currency by 2030
Advisors to the Central Bank of the United States consider that there is an intention to launch its own digital currency between 2025 and 2030
The Central Bank of the United States considers that it is quite likely that the country will be able to launch its own cryptocurrency or CBDC between 2025 and 2030. This was reported by the representatives of the financial center Alkesh Shah and Andrew Moss, in statements recently issued to Bloomberg, who assured that CBDCs are “an inevitable evolution of current electronic currencies”, which is why it is very difficult for the United States to “refrain from launching them”.
The US Central Bank considers central bank digital currencies to be an “inevitable evolution within the state economy”. In recent years, most of the central banks of different countries have had the emergence of digital currencies as a central point of concern, although the United States Federal Reserve (FED) had remained a little outside of this process. But a “recent report from Bank of America suggests that the American powerhouse may intend to launch its new digital currency by the end of this decade.”
It places the world’s leading power quite far behind other powers that are already advancing regulatory issues on this type of asset, especially China, which plans to massively launch its digital yuan this year.
The president of the Federal Reserve, Jerome Powell, has spoken on the subject and has indicated that “they would consider the possibility of launching a digital dollar, but that they are not interested in “being the first”.
Increase of stablecoin adoption
The representatives of the Central Bank of the United States also referred to the increase in “stablecoins in terms of adoption and capitalization”, highlighting that their trend will continue for several years. Alkesh Shah and Andrew Moss agree with the president of the FED, Jerome Powell, in pointing out that stablecoins “are a type of asset that can perfectly coexist with a digital dollar” and they hope that this type of asset will grow massively for making payments.
“We expect the adoption and use of stablecoins for payments to increase significantly in the coming years as financial institutions explore digital asset trading and custody solutions and as payment companies incorporate blockchain technology into their platforms.”
M. Rodríguez
Source: crypto247.com
