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Fed's Kaplan: can see reasons for US central bank digital currency

Fed's Kaplan: can see reasons for US central bank digital currency

FILE PHOTO: Dallas Federal Reserve Bank President Robert Kaplan speaks during an interview in his office at the bank's headquarters in Dallas, Texas, U.S. January 9, 2020. REUTERS/ Ann Saphir

Dallas Federal Reserve President Robert Kaplan said on Friday he could see the U.S. central bank eventually issuing its own digital currency, calling it the "last mile" in a digitalization of the payment system that is already in train.

"I would imagine in the years ahead - it's something the Fed is actively working on now - and I can see reasons why that will eventually get developed; China is already doing their own experiment with it," he said in a virtual appearance at Texas Tech. Still, he added, the Fed is a "long way" from making a decision and is currently studying the issues, including the potential impact on banks.

(Reporting by Ann Saphir; editing by Jonathan Oatis)

Source: Reuters

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