Credit unions warn about the cost of developing a CBDC
A US-based lobby group has spoken out against the development central bank digital currency (CBDC) in U.S.A. The National Association of Federally Insured Credit Unions (NAFCU) believes that the cost of the project outweighs the “assumed benefit”.
In a public letter to the U.S. Department of Commerce, on Tuesday, Andrew Morris, senior adviser for research and policy at NAFCU, declare that the costs will outweigh the benefits and that there are superior alternatives to accomplish the same goal. The letter came in response to the Department’s (RFC) request for comment on digital assets.
