The United States Federal Reserve is hiring a supervisor for its Retail Payments part in Washington, D.C.
On Nov. 3, the uscentral financial institution posted a brand new job opening to its web site, on the lookout for a brand new supervisor who is predicted to contribute to the analysis of digital currencies, stablecoins and distributed ledger applied sciences.
Besides the principal duties and obligations, the place additionally requires the supervisor to advertise and contribute to the event and implementation of latest insurance policies, rules and analysis in relation to retail cost techniques.
The new rent will likely be a part of the Retail Payments part, which oversees the Federal Reserve Banks’ test and automatic clearinghouse companies, facilitates analysis in retail funds innovation, and addresses coverage and regulatory points regarding retail cost techniques.
The listed most wage grade is federal grade 29, which means that the Fed is keen to pay as much as $250,700 per yr.
A month in the past, two members of the U.S. House of Representatives Financial Services Committee requested the Federal Reserve whether or not there are any plans to launch a U.S. greenback digital foreign money, expressing their considerations that the significance of the U.S. greenback may very well be in jeopardy “from wide adoption of digital fiat currencies.”
The proven fact that the central financial institution has now expanded the function of its Retail Payments supervisor to incorporate digital currencies, stablecoins and distributed ledger applied sciences, may very well be a sign that the Federal Reserve is no less than researching the likelihood.
“To end US dollar dominance makes no sense”
In September, former Federal Reserve official Simon Potter mentioned that proposals to finish the U.S. greenback’s dominance by changing it with a digital foreign money make no sense. He added:
“I see no argument that makes sense to have something that complicated out there when you have large, liquid capital markets in the U.S. Not having one currency that you can basically price things and have a deep market in, that makes life much harder for the global economy.”
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