Fed Prepares To Launch “Review” Of Central Bank Digital Currency That Could Render Cash, Privacy Obsolete

• Fed Prepares To Launch “Review” Of Central Bank Digital Currency That Could Render Cash, Privacy Obsolete
  by Tyler Durden, https://www.zerohedge.com/
  For years now, and in response to similar projects at central banks in Europe and – more importantly – China with the PBOC, the Fed has been hemming and hawing about whether to take the possibility of creating a “FedCoin” more seriously.
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  Senior officials have been pretty tetchy about carefully weighing the “pros and cons” of a system that  would, in theory, enable the Fed to deposit money directly into the ‘digital wallets’ of regular Americans, a power that could ultimately render the entire private banking system obsolete.
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  And so, as we wait for the Fed to take the next tenuous steps toward developing a CBDC, WSJ has offered yet another leak confirming that the Fed is finally ready to release its official ‘report’ on CBDCs, which will serve as the start of a long-promised “review” of the pros and cons of CBDCs that’s supposed to allow for public feedback. The report could drop “as early as this week”.
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  read more.

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