Central Banking

Fed’s Powell: Virtual currencies ‘not ready’ for role in payments reform

Jerome Powell

Virtual currencies are "not in a mature enough stage" to be considered as part of the Federal Reserve's faster payments initiative, according to Jerome Powell, a member of the Fed's board of governors.

Powell argued the level of adoption of virtual currencies is "simply not that high" at the moment. "While it may play a bigger role in the longer term, it is not really ready to play a role at this point," he said.

Last night he appeared alongside Federal Reserve Bank of Kansas City president Esth

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: