Fed seeks manager to research stablecoins and CBDCs

The U.S. Federal Reserve has posted a vacancy for a manager of digital innovations who will assess the pros and cons of stablecoins and central bank digital currencies (CBDCs), according to CoinDesk.

According to description, the specialist will head a section that will monitor, control, and assess the risks associated with digital innovations and manage them.

Among the division’s goals are the development and implementation of standards and rules for risk management for financial market infrastructure, reserve banks and payment systems.

The Fed opened the vacancy a few days after Chairman Jerome Powell, during an online conference at Princeton University, called regulating stablecoins a priority task. He added that there is an ‘obvious need’ for CBDCs, but it will take years before their issuance.

Earlier Powell said that for the Fed it is important not to be first to issue a digital currency, but to do it with the right approach.

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