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The Fed plans to prepare a report on digital currencies in the third quarter

CoinDesk Report US Federal Reserve Board Chairman Jerome Powell said on Wednesday that his agency plans to release a report on central bank digital currencies (CBDC), stablecoins and cryptocurrencies sometime in September.

Federal Reserve Say CBDC “is a general term for the third currency. It can use electronic records or digital tokens to represent the digital form of a country’s currency.” It is managed by the central bank and “can be used for various purposes” by individuals, businesses and financial institutions. “

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