US Fed Vice Chair says digital dollar would take 5 years to launch
Federal Reserve Vice Chair Lael Brainard issued a reality check on those awaiting a digital dollar, saying that creating a central bank digital currency (CBDC) in the U.S. would likely take as long as five years.
She also mentioned the Fed is considering caps on digital dollar holdings to encourage customers to use them only for payments and not as a safe asset for people or businesses to pile their money into.