{"id":558723,"date":"2023-03-02T23:45:00","date_gmt":"2023-03-02T20:45:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/us-treasury-led-cbdc-working-group-looking-at-technical-issues-national-interest\/"},"modified":"2023-03-02T23:45:00","modified_gmt":"2023-03-02T20:45:00","slug":"us-treasury-led-cbdc-working-group-looking-at-technical-issues-national-interest","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/us-treasury-led-cbdc-working-group-looking-at-technical-issues-national-interest\/","title":{"rendered":"# US Treasury-led CBDC Working Group looking at technical issues, national interest"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a257222cf7af\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a257222cf7af\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/us-treasury-led-cbdc-working-group-looking-at-technical-issues-national-interest\/#%E2%80%9D_US_Treasury-led_CBDC_Working_Group_looking_at_technical_issues_national_interest_%E2%80%9C\" >&#8221; US Treasury-led CBDC Working Group looking at technical issues, national interest  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_US_Treasury-led_CBDC_Working_Group_looking_at_technical_issues_national_interest_%E2%80%9C\"><\/span>&#8221; US Treasury-led CBDC Working Group looking at technical issues, national interest  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDMvYzExZmQ1Y2MtMzk5Yi00ODc3LWI5MjktNGNmMGVjZGVlNGVlLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-48054ca8>The United States Treasury Department is continuing to consider design decisions relating to the introduction of a central bank digital currency. Under Secretary for Domestic Finance Nellie Liang gave an audience at the Atlantic Council a rundown on March 1 of technical and policy issues the Treasury-led CBDC Working Group is looking at.<\/p>\n<p>Liang looked at both wholesale and retail CBDC (wCBDC and rCBDC), saying wCBDC raised more technical questions, whereas an rCBDC involved access issues. She mentioned in particular that \u201cinstitutions not currently eligible for central bank accounts\u201d could be granted access to a wCBDC. <\/p>\n<p>A wCBDC could be used for tokenized interbank settlements or securities transactions as well, Liang said. It could also support stablecoins:<\/p>\n<blockquote><p>\u201cA wholesale CBDC might also be used as a backing asset for stablecoins, which could make it easier to transfer value among stablecoins, in addition to supporting greater interoperability and choice.\u201d<\/p><\/blockquote>\n<p>Liang reiterated the Federal Reserve Board\u2019s position that an inter<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>ted rCBDC would serve the country\u2019s interests best and said determining the range of intermediaries for an rCBDC is a major policy question. An rCBDC could enhance financial inclusion, she said. The United States currently has the largest unbanked population in the G7, she added.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"und\" dir=\"ltr\"> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/CBDCwatch?src=hash&amp;ref_src=twsrc%5Etfw\">#CBDCwatch<\/a><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/rJk6YHrZc3\">https:\/\/t.co\/rJk6YHrZc3<\/a><\/p>\n<p>\u2014 Caitlin Long \u26a1\ufe0f (@CaitlinLong_) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CaitlinLong_\/status\/1631341220269277184?ref_src=twsrc%5Etfw\">March 2, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p> Liang doubted that a U.S. CBDC would help underpin the role of the dollar internationally:<\/p>\n<blockquote><p>\u201cIn my view, global demand for the dollar stems from structural factors \u2013 such as our respect for the rule of law, the strength of our economy, and the depth, breadth, and openness of U.S. financial markets.\u201d<\/p><\/blockquote>\n<p>In that, she echoed sentiments expressed by Fed governor Christopher Waller last year.<\/p>\n<p><strong><em>Related: US lagging on CBDCs could spell \u2018trouble\u2019 \u2014 Crypto Council policy head<\/em><\/strong><\/p>\n<p>Liang repeated the already standard disclaimer that the Treasury would not issue a CBDC without Congressional support. A CBDC is only one of several options available for \u201cupgrading the legacy capabilities of central bank money,\u201d Liang said. She pointed to the FedNow Service instant payment system is expected to go into service this year. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/us-treasury-led-cbdc-working-group-looking-at-technical-issues-national-interest\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; US Treasury-led CBDC Working Group looking at technical issues, national interest &#8220; The United States Treasury Department is continuing to consider design decisions relating to the introduction of a central bank digital currency. Under Secretary for Domestic Finance Nellie Liang gave an audience at the Atlantic Council a rundown on March 1 of technical&#8230;<\/p>\n","protected":false},"author":1,"featured_media":558724,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/c11fd5cc-399b-4877-b929-4cf0ecdee4ee.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75046,74355,70550],"class_list":["post-558723","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cbdc","tag-adoption","tag-federal-reserve"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/558723","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=558723"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/558723\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/558724"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=558723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=558723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=558723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}