Federal Reserve’s ‘FedNow’ Launch Triggers Fresh Speculation Over Digital Dollar
The US Federal Reserve denies that its new instant payments service, FedNow, is in any way tied to the digital asset space.
But experts say the new system could lay the groundwork for the infrastructure needed for a potential central bank digital currency (CBDC) in the US And so this week’s announcement has led to a fresh airing of warnings about potential privacy and control risks around a digital dollar.
The Fed on Thursday officially launched the service, which makes the process of sending payments in the US almost instantaneous, as opposed to a few hours or days that sends