#cbdc

#cbdc

The Act requires licensed stablecoin issuers to hold liquid reserves such as cash and U.S. Treasuries, publish monthly disclosures, and submit to federal or state supervision. At the same time, Congress shelved a federal central bank digital currency. Supporters saw this as a victory for innovation, but critics called it a quiet federalization of private money. The United States no longer needs to issue its own digital dollar. It has simply delegated that function to private issuers operating under oversight.

This study found that a multi-AMM set-up for CBDCs exchange on L2 is more cost-efficient than a single AMM of Project Mariana, despite the fragmentation of liquidity.