Political Quotes

On the recordSeptember 13, 2023
There is no support for a CBDC in Congress, except from those on the fringes.
Said by
Martin Foster
Democratic · Illinois

Editor's note · Context

Foster states that CBDC lacks congressional backing, except from fringe supporters.

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More from Martin Foster

Dec 4, 2023

Yes. Do any of our other witnesses have any comments on this area, the utility of a national standard for a secure digital ID provided by States?

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The mobile ID rollout in the United States has been fragmented, with some States moving much faster than others to adopt the technology.

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If we need an example of why oversight of nonbank financial firms is essential, we can look at China today.

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If this was in place during COVID, when we had to onboard massive numbers of unbanked customers, but the customers had had a secure digital ID, would that have been a big improvement in our response to COVID?

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