Fed Dramatically Speeds Up U.S. Payments With ‘FedNow’ Service, but Downplays Any Tie to CBDCs

fed dramatically speeds up u s payments with fednow service but downplays any tie to cbdcs

FedNow offers functionality that proponents of cryptocurrencies and blockchains have long championed: making it easier to move money around. The service could, therefore, increase friction between the conventional financial system and crypto – at a time when U.S. regulators have taken aggressive steps to clamp down on digital currencies.

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