CBDC Countdown
If Administration officials abide by the timeline demanded of them in President Biden’s executive order (see Client Report CRYPTO26), the next two weeks will prove critical not just for crypto, but also for CBDC. We are monitoring and analyzing all these developments, giving top priority to two: what the Department of Justice says about the extent to which the Fed needs new laws to issue CBDC and whether the House Financial Services Committee can get it together to float legislation establishing at least the beginnings of a federal construct for stablecoins along with CBDC.