However, Steele also noted the possible risks of a retail CBDC, especially the danger of runs. He said the recent U.S. banking turmoil showed “the technology enabling the movement of deposits only getting faster,” which increases the hazard of high-speed, panic-driven movements of funds. A Treasury-led group examining the possibilities of a U.S. CBDC “is evaluating policy objectives related to global financial leadership, national security, and privacy, illicit finance and financial inclusion,” Steele said.

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Author: Jesse Hamilton

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