US Treasury Secretary: Fed will not issue digital currency in five years, and does not oppose Facebook to create digital currency

Author: Xiu MU

Source: Tweet bitpush.news

According to Bloomberg, Treasury Secretary Steven Mnuchin said at a hearing of the House Financial Services Commissioner on Thursday that the Fed has no need to issue digital currencies within five years and does not oppose Facebook's creation of digital currencies.

During the hearing, Mnuchin said that he had discussed digital currency with Federal Reserve Chairman Jeroime Powell, and they agreed that the Federal Reserve would not need to issue digital currency in the next five years.

Nevertheless, some other regions and countries around the world are intensively launching their digital currency plans. Several central banks, including the People's Bank of China, are considering the creation of digital currencies. The European Central Bank also said that if private payment systems cannot solve the problem of fast and convenient cross-border payments, they may launch their own central bank digital currencies.

Regarding Facebook's crypto project Libra, Mnuchin emphasized that if Facebook wants to create a digital currency, he has no opinion on it, but the digital currency needs to fully comply with bank secrecy and anti-money laundering regulations, and it must not be used to finance terrorism.

Facebook's crypto project, Libra, was announced in June this year, and was subsequently questioned and opposed by governments, central banks, and legislative and regulatory agencies around the world. Mnuchin said he has held more than a dozen meetings with Facebook to address regulatory concerns.

Reprint must indicate the source.

Disclaimer: All articles in Bibei represent the views of the author and do not constitute investment advice. Investment is risky and risky.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

Zhongying Internet publicly claimed that it is preparing for the first of the A-share listed companies in the digital currency trading platform.

This article Source: Finance Network · Chain Finance , the original title "Save capital chain break risk A-...

Blockchain

Babbitt Column | From Central Bank to Digital Currency Exchange: A Typical Case of Banking Sinking

Author: Sun vice president As the author mentioned in the previous article, the once-populated bottom-level public ch...

Opinion

Web3 Public Legal Education | Why is it best for blockchain startups to not issue tokens?

If traditional internet entrepreneurship is considered a high-risk endeavor, then starting a business in blockchain i...

Blockchain

Coinbase CEO: Almost every economic field is struggling, and Bitcoin is the currency people need at this moment

Editor's Note: This article has been deleted without changing the original intention of the author. Coinbase, a ...

Blockchain

Weekly data on the BTC chain: data on the chain began to fall, and the exchange traded frequently

In the past week (10.28-11.03), from the main chain data, the total amount of transactions has increased compared wit...

Blockchain

Solana Ecosystem Bounces Back from FTX Collapse with a Dash of Resilience and a Pinch of Silver Lining

Solana CEO, Anatoly Yakovenko, discusses the impact of FTX's downfall on Solana's ecosystem startups and projects.