Closer to home, Brainard said without a digital dollar the proliferation of stablecoins could fragment the payment system.
Regulators are getting more involved in crypto, or so they said at this year's Consensus event.
The Federal Reserve governor discussed cryptocurrencies and a digital dollar at Consensus 2021.
Last year, Federal Reserve Governor Lael Brainard announced the Boston branch of the U.S. central bank was exploring a digital dollar. She’ll be speaking next week at Consensus.
Lael Brainard, who has been involved with the Fed's efforts to research a digital dollar, is seen as an ideal choice, Bloomberg sources said.
The Federal Reserve is actively investigating the potential impact of a digital dollar, though it has no plans to issue one anytime soon.
Lael Brainard said in a speech the Federal Reserve is looking at digital ledger use cases including for a possible central bank digital currency.
Federal Reserve governor Lael Brainard has warned that the Facebook-led Libra project faces stiff regulatory challenges and that there's a question mark over one of its core concepts.
Stephen Moore, whose failed bid to join the Fed imploded within months, has a new plan to disrupt global finance: a fractional reserved-backed stablecoin.
Federal Reserve governor Lael Brainard delivered a sharp critique of Libra, which would need to resolve many regulatory hurdles before going live.
Fed governor Lael Brainard has said that cryptocurrencies do not pose a threat, and there is "no compelling need" for a Fed-issued digital currency.