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These differences were on full display during the 2022 Consensus Roundtable on whether the US Federal Reserve should issue a digital dollar or leave such innovation to the private sector. Dante Disparte, head of policy at stablecoin issuer Circle Internet Financial, called central bank digital currencies (CBDCs) “an absurd idea”. However, Gray warned that private sector efforts to create a widely used form of currency would put the taxpayer on the hook if those efforts failed.

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