The Federal Reserve is looking into developing a digital currency - Business Insider

Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.

In September, Representatives French Hill and Bill Foster said the central bank should consider a U.S.-backed cryptocurrency to remain competitive. U.S. central bankers have continued to explore the possibility of developing a digital currency that would be directly available to businesses and households, Federal Reserve Chairman Jerome Powell confirmed to lawmakers this week.

"We are carefully monitoring the activities of other central banks to identify potential benefits that may be relevant in the U.S. context," he wrote. "Our observation is that many of the challenges they hope to address do not apply to the U.S."

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

How Brazil is leading Latin America's fintech revolution - Business InsiderLatin America Fintech Snapshot - Brazil: BIIntelligence examines how the region's economic powerhouse is leading its fintech revolution
Source: BusinessInsider - 🏆 729. / 51 Read more »

Apple may have to open NFC technology to others - Business Insider - Business InsiderA German law would make Apple offer NFC technology to other firms – impacting Apple Pay since it doesn't currently offer its NFC technology to others.
Source: BusinessInsider - 🏆 729. / 51 Read more »

U.S. Fed approves merger between BB&T, SunTrust BanksThe U.S. Federal Reserve said on Tuesday it approved a merger between BB&T Corp ...
Source: Reuters - 🏆 2. / 97 Read more »

Small business lender BlueVine raises $102 million in Series F round - Business InsiderA Menlo Ventures partner told us BlueVine's focus is now growing credit products, adding banking features, and reaching 'scale where it could be a large, publicly traded fintech.'
Source: BusinessInsider - 🏆 729. / 51 Read more »