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TCH Comments on the Federal Reserve Board of Governors’ Consultative Paper: Money and Payments: The U.S. Dollar in the Age of Digital Transformation

The Clearing House Association L.L.C. (TCH) submitted a comment letter in response to the Federal Reserve Board of Governors’ (FRB) request for comments on its consultative paper on central bank digital currency (CBDC). TCH’s comment letter notes that the goals articulated in support of a CBDC would best be addressed through less risky, more efficient, and more economical alternatives that are readily available in the market today. TCH further believes that if the FRB decides to proceed with a CBDC, it should do so with a clear use case in mind and a clear legislative mandate from Congress. TCH’s letter also identifies potential risks associated with a CBDC that outweigh the potential benefits.

To read the full comment letter please click here.