In January 2022, the Board of Governors of the Federal Reserve System (Federal Reserve Board) published a paper titled, "Money and Payments: The U.S. Dollar in the Age of Digital Transformation," inviting comments from the public.
This paper is the first step in a public discussion between the Federal Reserve and stakeholders about central bank digital currencies (CBDCs). The paper has been designed to foster a broad and transparent public dialogue about CBDCs in general, and about the potential benefits and risks of a U.S. CBDC.
At the request of the Advisory Group for Digital Currencies (AG5) of Technical Committee 68 (TC 68) of the International Organization for Standardization (ISO), the Standards Advisory Group (SAG) of TC 68 assisted in preparing a response to the invitation for public comments and responded specifically to questions 20, 21 and 22 of the paper. Click here to view the response submitted by the SAG.