Fed must launch FedNow ahead of Facebook’s Libra, says official

Fed must launch FedNow ahead of Facebook’s Libra, says official

A senior US federal official has argued that Facebook’s Libra highlights the need for the Federal Reserve (Fed) to act urgently and launch its own real-time payments system. In a letter to the Federal Reserve’s Board of Governors, Rohit Chopra, a commissioner at the US FTC, expressed his support of the central bank’s proposal to launch a new, round-the-clock real-time payments system.

Clara
Clara
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