New Instant Digital Payments System Isn’t a CBDC, Feds Say — But Critics Say It’s Still About Control
By Brenda Baletti, Ph.D The Federal Reserve wants everyone to know that its new FedNow instant digital payments system, which it plans to roll out in July, is not a central bank digital currency (CBDC). “The FedNow Service is neither a form of currency nor a step toward eliminating any form of payment, including cash,” the U.S. central banking system said…
