• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Buy Neo Pepe
No Result
View All Result
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Commerce Department To Release Blockchain Statistics, Says Lutnick
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Commerce Department To Release Blockchain Statistics, Says Lutnick
CBDC

CBDC Stealth Mode: Unraveling The Privacy Puzzle Of A U.S. CBDC

Ebo Victor
by Ebo Victor
2 years ago
·
Posted in CBDC
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

US Treasury official, Graham Steele, emphasizes the advantages of a retail CBDC backed by the Federal Reserve, providing safety during bank runs and stabilizing private sector lending.

Striking The Anonymity Balance

During a recent Texas payments conference, Graham Steele highlighted the significance of anonymity when contemplating the development of a future Central Bank Digital Currency in the United States.

Emphasizing the importance of privacy and anonymous transactions, Steele expressed the need to incorporate these considerations into the design of a digital dollar.

Speaking on June 13 at a conference focused on payments, the Assistant Secretary for Financial Institutions at the Treasury Department discussed the Federal Reserve’s controversial FedNow system and the potential implementation of CBDCs.

Steele stressed the necessity of addressing the preservation of privacy and anonymity, calling for an exploration of available technologies and methods, such as Privacy Enhancing Technologies, to ensure such protections are included in the potential design of a retail Central Bank Digital Currency.

In his speech, he carefully assessed the advantages and risks of a prospective Central Bank Digital Currency, recognizing its potential to foster a competitive payment landscape.

Related Reading: American Banker Highlights CBDC Development Endeavors By Ripple

Exploring The Potential Of A Retail CBDC

Steele highlighted the potential advantages of a retail CBDC directly backed by the Federal Reserve. According to Steele, such a digital currency could offer a safer alternative for consumers during bank runs, potentially mitigating the risk of destabilizing private-sector lending.

Drawing attention to recent banking crises, Steele noted that access to non-deposit alternatives outside the traditional banking system may have influenced the nature and speed of bank runs. While the United States has yet to make a definitive decision regarding pursuing a CBDC, a dedicated group led by the Treasury is currently evaluating the implications of introducing a Central Bank Digital Currency within the country.

Steele explained that this evaluation encompasses various policy objectives, including global financial leadership and national security considerations.

Related Reading: CBDC: Canvas Executes First FX Transaction With Australian eAUD, As Trials Continue

Turning to the Federal Reserve’s FedNow instant payments system, Steele expressed support for fostering multiple payment options; he thinks it may promote choice, competition, and resilience within the payments ecosystem. He anticipates that such an environment would encourage the development of innovative payment services and features.

However, the FedNow system has faced opposition from political figures. Robert F. Kennedy Jr. and Ron DeSantis, both presidential hopefuls, argue that its implementation could pave the way for a CBDC, which they believe would grant excessive control to the government.

In April, Federal Reserve Board governor Michelle Bowman expressed skepticism about the widespread justification of a CBDC beyond its application in interbank and wholesale transactions, deeming it challenging to envision its broader use.

Featured image from iStock, Charts from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Ebo Victor

Ebo Victor

Follow

Ebo Victor is a professional crypto journalist, writer and trader, Whose main goal is to preach the crypto gospel to everyone around him. With his vast experience covering various aspects of Web3, crypto and blockchain, Victor has helped several crypto publications in creating quality content. He is a lover of sport and art.

Full Profile

Related Posts

Digital Yuan Goes Cross-Border

Digital Yuan Goes Cross-Border: Hong Kong Unveils e-CNY Wallets For Local Users

1 year ago
Donald Trump

Donald Trump Talked Out Of CBDC For The US? Ex Candidate Explains

1 year ago
Donald Trump CBDC Crypto

Donald Trump Wants To Ban CBDCs As US Presidential Race Heats Up

1 year ago
CBDC

CBDC: Hong Kong Explores Advance Use Cases In Its e-HKD Phase 2 After First Trial

1 year ago
Elizabeth Warren CBDC Hong Kong

Surprise: BIS Used Ethereum Testnet And Curve Finance’s Code In CBDC Pilot

1 year ago
CBDC

Anti-CBDC Bill Inches Closer To Approval With Strong Support From 60 Congress Members

1 year ago

Premium Sponsors

Press Releases

  • Top 5 Most Profitable ASIC Miners in 2025: ROI Comparison

    12 hours ago
  • Bitget to Transfer 440 Million BGB to Morph Foundation...

    12 hours ago
  • From Institutional to Individual Investors: How XRP and...

    12 hours ago
  • Despite XRP price fluctuations, Mint Miner lets holders...

    13 hours ago
  • CryptoMiningFirm Launches First XRP, BTC Mobile App: Earn...

    15 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Buy Neo Pepe

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.