Off The Wire
Fed's Bostic says a digital dollar could raise privacy questions and other issues
NEW YORK, Oct 14 (Reuters) - A U.S. central bank digital currency could introduce a host of questions about privacy and government authority, and there are many steps needed before one could be put into place, Atlanta Federal Reserve Bank President Raphael Bostic said on Thursday.
"We're going to continue to study it and we'll also see how the market evolves," Bostic said during a virtual discussion organized by the National Black MBA Association. "If stablecoins become much more widely used that may put some pressure on us to move into the space a little sooner than we might otherwise."
The Fed is expected to release a discussion paper here soon on the costs and benefits of establishing a digital dollar. (Reporting by Jonnelle Marte, Editing by Franklin Paul)