A US Federal Reserve official, identified as Bar, stated that there is still a long way to go for the issuance of a central bank digital currency (CBDC) in the United States. The official emphasized that the Federal Reserve would only advance digital currency efforts if there is clear support from the executive branch and legislative backing from Congress.
Additionally, the Federal Reserve remains deeply concerned about the issuance of stablecoins without strong federal regulation. This highlights the cautious approach taken by the US central bank towards digital currencies and the need for proper regulatory frameworks to ensure their stability and security.
