Recently, Fed Chairman Powell's remarks at an important hearing have attracted widespread attention in the financial community. He stated that the United States has a long way to go before launching a digital dollar, and this statement seems to imply deeper strategic considerations.



Powell stated clearly at the Senate Banking, Housing, and Urban Affairs Committee hearing that the Fed currently does not recommend or adopt any form of central bank digital currency (CBDC). He particularly emphasized that the Fed has no intention of establishing personal accounts for all American citizens, and even if a central bank digital currency is launched in the future, it will be implemented through the existing banking system.

On the surface, these remarks seem to indicate that the Fed is taking a cautious stance on the digital dollar. However, in light of the current complex financial environment, this statement may have deeper implications. The Fed has always been known for its gradual policy adjustments, and Powell's comments are likely paving the way for significant changes in the future.

Reflecting on 2022, the Biden administration signed an executive order requiring the Fed to conduct an in-depth study of the potential for central bank digital currency, highlighting the official U.S. stance on the digital dollar. Therefore, Powell's current cautious statements may be waiting for the best timing or closely monitoring global digital currency development trends to make more comprehensive decisions.

At the same time, the global stablecoin market is undergoing unprecedented changes. As market leaders, USDT and USDC are facing severe challenges, and this change in the situation will undoubtedly have an impact on the Fed's decision-making.

In this rapidly changing fintech era, every move by the Fed stirs the nerves of global markets. Although Powell's comments appear conservative on the surface, they may actually signal important measures that the U.S. is about to take in the digital currency space. With the development of global central bank digital currencies and the turbulence in the stablecoin market, the Fed's next steps will be closely watched.
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DisillusiionOraclevip
· 08-09 07:00
Is the status of stablecoins in jeopardy? Are you scared?
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BanklessAtHeartvip
· 08-09 05:17
Dragging and dragging, but not pushing the digital dollar.
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SerumSqueezervip
· 08-06 07:50
USDT is really nice
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GasFeeLovervip
· 08-06 07:50
Fast forward to CBDC collapse
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StablecoinEnjoyervip
· 08-06 07:48
I am an old player of stablecoins.
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