NY Fed’s Williams says major questions need to addressed as digital currencies emerge

NY Fed’s Williams says major questions need to addressed as digital currencies emerge

Several major questions need to be addressed as payments technology advances and more central banks and other entities consider issuing digital currencies, New York Federal Reserve Bank President John Williams said on Monday.

For example, as new digital currencies are introduced, policymakers need to decide how the new technology would be regulated and how digital currencies would work alongside physical cash, Williams said during a panel organized by the Bank for International Settlements.

The Fed official was responding to a presentation from former Bank of England governor Mark Carney that urged central banks to consider digital currencies.

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