“It is important, however, to consider the implications of a potential future state in which many foreign countries and currency unions may have introduced CBDCs. Some have suggested that, if these new CBDCs were more attractive than existing forms of the U.S. dollar, global use of the dollar could decrease – and a U.S. CBDC might help preserve the international role of the dollar,” the paper said.
In Long-Awaited CBDC White Paper, Fed Flags Privacy, Financial Stability Risks
