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To print this article, all you need is to be registered or login on Mondaq.com. The U.S. House Financial Services Subcommittee on National Security, International Development and Monetary Policy considered testimony on the creation of a U.S. central bank digital currency ( CBDC ). In a Memorandum to the members of the Committee, majority staff explained that many central banks are pursuing CBDCs because of their potential to (i) increase financial inclusion, (ii) facilitate faster and cheaper payment options, (iii) counter private cryptocurrencies and (iv) build newer, more direct levers to implement monetary policy. With regard to national security considerations, staff asserted that a

United statesJulia friedlanderAndrew levinC boyden grayJulia coronadoRobertm baldwinYayaj fanusiePeople bankAtlantic councilMonetary policyInternational developmentFederal reserveFinancial services subcommitteeCustomer due diligenceFederal reserve backedAdjunct senior fellow