- The Innovation Center of the New York Federal Reserve Bank (NYIC) has announced a 12-week CBDC Proof of Concept project.
- The project will test “technical feasibility, legal viability, and commercial application,” through token simulations and study of regulatory frameworks.
- The NY Fed stated that the initiative may include multi-currency operations and stablecoins.
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Online privacy is important, but I can turn it off.Computer security is important, but I can turn it off.Banking security is important, but I can use cash.Once the CBDC is in place, it is I who can be turned off.— Curt Howland