Central Bank Digital Currencies Global Update for Q1 2022

Do you like the Fed’s digital currency proposal? Discover how a CBDC would affect you.

On January 20, the Federal Reserve Board released a discussion paper that examines the pros and cons of a potential U.S. central bank digital currency (CBDC). Unlike electronic money used in bank accounts, online transactions, and payment apps, a CBDC would be a liability of a central bank, like the Federal Reserve.

As individuals and institutions weigh in on the Fed’s paper, you need to explore how central bank digital currency would affect banks, credit unions, fintech providers, and accountholders. The comment period will end in May, so it is essential to consider these issues immediately.

• How would a CBDC differ from other forms of digital currency?
• How will banks and credit unions be involved?
• Would this be good or bad for traditional financial institutions?
• Would a CBDC replace or augment fintech offerings?
• What privacy and security risks are created by a CBDC?
• How could a CBDC accelerate payments?
• How are other countries’ central banks approaching digital currency?
• Should you respond to the Fed’s discussion paper?

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