The US Federal Reserve is exploring the possibility of creating its own cryptocurrency. This was written by journalist Zachary Warmbrod on his Twitter page with reference to a letter from Fed Chairman Jer Powell.
Now the Fed is studying the effectiveness of introducing its own digital currency into the economy of both the country and the whole world. According to Powell, the introduction of such a digital currency, which would be supported by the Central Bank with a powerful economy, would be an absolutely unprecedented event.
The regulator is studying the possibility of developing a national cryptocurrency after a statement by Republican Congressmen French Hill and Bill Foster has been shown, in which authors has stated that after the introduction of a similar digital currency in China, the US economy will begin to slow down.
Digital currency is easier for online payments, which will negatively affect the dollar and other fiat currencies, the congressmen noted. At the same time, in a letter, representatives of the Fed note that now the American authorities are not developing their own cryptocurrency, but are simply exploring its potential possibilities.
However, the Chinese authorities continue to create their own cryptocurrency, which could become the main new digital economy. It will also be developed through the existing WeChan platform, experts say.
Despite this, the US authorities are one of the main opponents of the introduction cryptocurrencies in the United States.