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Crypto dollar won’t replace cash – US Federal Reserve Chief

Jerome Powell, the leader of the world’s most powerful bank has recently disclosed that upcoming central bank digital currencies would need to be integrated with other existing payment systems, meaning it will not replace cash but complement such medium.

“A recent report from the Bank for International Settlements and a group of seven major central banks, which includes the U.S Central Bank assessed the feasibility of CBDCs in helping central banks deliver their public policy objectives,” Powell said in a news report credited to Bloomberg.

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