US Senate Banking Committee to Hold Virtual Session on CBDCs



Members of the U.S. Senate Committee on Banking, Housing, and Urban Affairs will hold an arts session on CBDCs.

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The session will be titled “Building a Stronger Financial System: The Opportunities of a Central Bank Digital Currency”. The session will be held in a virtual format and can be followed by live broadcast.

Neha Narula, director of the MIT Digital Currency Initiative, Columbia Law School member Lev Menand, former CFTC chairman J. Christopher Giancarlo, and Stanford professor Darrell Duffie will be among the speakers.

Although a detailed breakdown of the session is not available at the moment, it is stated that China’s digital yuan work may be involved in most of the session.

The Federal Reserve CBDC continues its work. The institution is expected to announce its first findings and prototypes to the public later this year.