US Treasury Secretary Steven Mnuchin (right) with US Federal Reserve Chairman Jerome Powell (left) during a Financial Stability Oversight Council (FSOC) meeting at the US Treasury in Washington, DC on Wednesday, December 19, 2018. Photo: BloombergUS Treasury Secretary Steven Mnuchin (right) with US Federal Reserve Chairman Jerome Powell (left) during a Financial Stability Oversight Council (FSOC) meeting at the US Treasury in Washington, DC on Wednesday, December 19, 2018. Photo: Bloomberg
US Treasury Secretary Steven Mnuchin (right) with US Federal Reserve Chairman Jerome Powell (left) during a Financial Stability Oversight Council (FSOC) meeting at the US Treasury in Washington, DC on Wednesday, December 19, 2018. Photo: Bloomberg

US Treasury, Federal Reserve agree there’s no need for America to issue a digital currency in the near future

  • Some other central banks, including the People’s Bank of China, have discussed creating digital currencies
  • The European Central Bank is examining whether to develop its own digital currency, while the Hong Kong Monetary Authority is developing a prototype digital token to facilitate trade settlement with the Bank of Thailand
Topic |   Digital currencies
US Treasury Secretary Steven Mnuchin (right) with US Federal Reserve Chairman Jerome Powell (left) during a Financial Stability Oversight Council (FSOC) meeting at the US Treasury in Washington, DC on Wednesday, December 19, 2018. Photo: BloombergUS Treasury Secretary Steven Mnuchin (right) with US Federal Reserve Chairman Jerome Powell (left) during a Financial Stability Oversight Council (FSOC) meeting at the US Treasury in Washington, DC on Wednesday, December 19, 2018. Photo: Bloomberg
US Treasury Secretary Steven Mnuchin (right) with US Federal Reserve Chairman Jerome Powell (left) during a Financial Stability Oversight Council (FSOC) meeting at the US Treasury in Washington, DC on Wednesday, December 19, 2018. Photo: Bloomberg
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