Central Bank Digital Currencies (CBDC) and Federal Reserve Board Preconditions for CBDC Use in the US Payment System

The U.S. payment system is ripe with the use of digital currencies. Following the recent Executive Order signed by President Biden on March 9, 2022, which directs various federal government agencies to assess the benefits and risks of digital assets, financial institutions should begin preparing for the development and regulation of a CBDC in the United States. Access this practice note to understand the digital currency regulations and preconditions set out by the Federal Reserve Board.

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