The Royal Bank of Canada believes that the US Federal Reserve will not rush into the development and implementation of a digital currency, and will instead gradually integrate a dollar-pegged token into the payment infrastructure.
Bank analysts also believe that the regulator will refuse to issue such a digital dollar for retail or corporate transactions and instead make it publicly available.
The bank further invites the Federal Reserve to address problems related to ensuring the security of transactions and user privacy.
Reports state that the Federal Reserve is conducting research on a central bank digital currency (CBDC), with pilot testing and final decision being made only after that.
US Congress supports the authorities’ plans as Senator Elizabeth Warren suggested a CBDC to be a good alternative to Bitcoin and other cryptocurrencies without issuers.
