Federal Reserve chair teases when its crypto report will drop 'ready'

The chairman for the Federal Reserve has said when the highly anticipated report on crypto will be released. It's 'ready to go'.

Published Jan 12, 2022 4:32 AM CST   |   Updated Tue, Feb 8 2022 12:35 AM CST
0 minutes & 45 seconds read time

According to the chairman of the Federal Reserve, the central banking system is "ready" to release its report on cryptocurrency.

Federal Reserve chair teases when its crypto report will drop 'ready' 10 | TweakTown.com

Jim Powell dropped the news regarding the upcoming report during his re-nomination testimony that was held in front of the Central Banking Committee on Tuesday. Powell was asked about the status of the upcoming report by Idaho Senator Mike Crapo, and the Fed chairman replied by saying, "The report really is ready to go".

Powell has previously said that the Federal Reserve is looking into the possibility of creating its own digital dollar, following China launching its own digital yuan. Based on these and other previous statements from the Fed chair, it can be assumed that the report will focus on Central Bank Digital Currencies (CBDC) and touch on several other issues in cryptocurrency. If you are interested in reading more about this story, check out this link here.

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NEWS SOURCE:decrypt.co

Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science and space news. Jak's love for science, space, and technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

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