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Bill would require Fed study on CBDC

Mar 31, 2021

Reps. Bill Foster (D-Ill.) and French Hill (R-Ark.) recently introduced legislation directing the Federal Reserve to work with other agencies to study and issue a report on central bank digital currencies.

Details: Under the Central Bank Digital Currency Study Act (H.R. 2211), the Fed would provide recommendations to Congress on feasible models for developing a CBDC to help policymakers discuss its potential benefits and challenges.

More: “As more countries explore and research CBDC, we must ensure that America does not fall behind,” Hill said.