ChainReg 18: Canada Joins the CBDC Party; Congress, the SEC & the Fed Still Bickering
Welcome to ChainReg18….a weekly podcast that uses a data-driven approach to spot trends and tensions within the policy process regarding digital currencies. From crypto to stablecoins to CBDC, we take the pulse of the policy process every week and share our findings.
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This week, policymakers continue to make slow but steady and technical progress towards launching central bank digital currencies.
Active engagement from Canada, the EU and the UK is not matched in the United States which remains fixated on digital currency regulatory policy.
The debate in Europe focuses on technical details, particularly whether or not central banks should provide remuneration for CBDCs on a par with bank deposits. See our Top Three Reads to catch up with the technical debate that sees the EU and the UK once again taking different positions.
The stand-off in the United States shows no signs of abating.
The SEC seems to have dug in its heels quietly against the Republican-led Financial Services Committee in the House of Representatives. Policymakers outside of Capitol Hill maintain a guarded silence regarding all things “crypto” and digital currency in general with one key exception. The Quote of the Week de-codes the policy language from the Federal Reserve and Capitol Hill. In this context, one sentence from the Federal Reserve’s 85-page Financial Stability Report tells you everything to you need to know about the increasingly subterranean debate…which is why this document is in our Top Three Reads this weekend.
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