Federal Reserve denies FedNow is a CBDC

Online sources post disinformation on payment system as anti-CBDC sentiment grows

US Federal Reserve building

The Federal Reserve said its FedNow payment system “is not related to a digital currency”, apparently in response to an online conspiracy theory.

In a statement posted to its Twitter feed on April 12, the Fed said the new system “is neither a form of currency nor a step toward eliminating any form of payment, including cash”. The tweet borrows text from an existing FAQ page on FedNow.

The tweet came after several online sources posted disinformation regarding FedNow. This included an April 5

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