美联储否认数字美元的债券恶棍计划，研究揭穿了全球货币担忧

Does the Fed Have a Bond Villainous Plan for a Digital Dollar?

美联储是否有针对数字美元的债券邪恶计划？

Federal Reserve Chairman Jerome Powell emphatically denies harboring Bond villain-esque ambitions to unleash a central bank digital currency (CBDC) upon the unsuspecting populace. However, a recent study debunks the exaggerated concerns surrounding the potential of Bitcoin (BTC) and other digital currency tokens as global currency.

美联储主席杰罗姆·鲍威尔坚决否认怀有邦德恶棍般的野心，向毫无戒心的民众释放央行数字货币（CBDC）。然而，最近的一项研究揭穿了人们对比特币（BTC）和其他数字货币代币作为全球货币潜力的过度担忧。

Powell's CBDC Clarifications

鲍威尔对 CBDC 的澄清

In response to inquiries regarding the Fed's CBDC plans, Powell asserted that the institution has yet to reach a definitive conclusion. He emphasized that Congressional legislation would be required to authorize the creation of a "retail CBDC," which would enable direct use by the public.

在回答有关美联储 CBDC 计划的询问时，鲍威尔坚称该机构尚未得出明确的结论。他强调，需要国会立法来授权创建“零售 CBDC”，以便公众直接使用。

"We're nowhere near that," Powell declared. "We're simply exploring the frontiers of digital finance, which encompasses a wide range of areas. We need to stay informed, but it's incorrect to assume we're actively developing a CBDC or harboring secret plans."

鲍威尔宣称：“我们还远未达到这一目标。” “我们只是在探索数字金融的前沿，它涵盖了广泛的领域。我们需要随时了解情况，但假设我们正在积极开发 CBDC 或隐藏秘密计划是不正确的。”

Republican Fears and China's Digital Yuan

共和党的恐惧和中国的数字人民币

Powell's assurances may not appease Republicans like Rep. Tom Emmer, who suspect the Fed is plotting to introduce a CBDC surreptitiously. These fears stem largely from the Chinese government's enthusiastic adoption of the digital yuan, which boasts advanced citizen surveillance capabilities.

鲍威尔的保证可能无法安抚众议员汤姆·埃默（Tom Emmer）等共和党人，他们怀疑美联储正在密谋推出 CBDC。这些担忧很大程度上源于中国政府对数字人民币的热情采用，该数字人民币拥有先进的公民监控能力。

Other nations, including some that former President Donald Trump dismissed as "shitholes," are also considering the pros and cons of digitizing their currencies. For instance, Sweden's Riksbank recently reported on the challenges of synchronizing offline payments with online balances in a digital currency context.

其他国家，包括一些被前总统唐纳德·特朗普斥为“粪坑”的国家，也在考虑货币数字化的利弊。例如，瑞典央行最近报告了在数字货币背景下同步离线支付与在线余额的挑战。

Stablecoin Bill: Stalled in Congress

稳定币法案：在国会陷入停滞

Some Republicans favor approving legislation for U.S.-friendly stablecoins before the current Congressional term concludes. However, the likelihood of this materializing appears to be diminishing.

一些共和党人赞成在本届国会任期结束之前批准对美国有利的稳定币立法。然而，这种实现的可能性似乎正在减小。

Rep. Patrick McHenry, Chairman of the House Financial Services Committee, acknowledged that a "workable frame" for advancing the Clarity for Payment Stablecoins Act of 2023 exists. However, he cautioned that the legislation's passage is far from certain.

众议院金融服务委员会主席、众议员帕特里克·麦克亨利 (Patrick McHenry) 承认，推进 2023 年《支付稳定币清晰度法案》的“可行框架”是存在的。然而，他警告说，该立法的通过还远未确定。

Disagreements persist over the oversight of payment stablecoin issuers, with McHenry advocating for state-level regulation and Rep. Maxine Waters pushing for federal control. The need to attach the bill to a more urgent legislative vehicle further complicates its prospects.

在支付稳定币发行人的监管问题上分歧依然存在，麦克亨利主张州级监管，众议员玛克辛·沃特斯则推动联邦控制。将该法案附加到更紧迫的立法框架的必要性使其前景进一步复杂化。

Digital Currency as a Global Reserve Currency: Overblown Fears

数字货币作为全球储备货币：过度的担忧

While companies like Coinbase and Circle promote the concept of "payment stablecoins," the widespread use of digital currency tokens as cash remains limited. A recent study casts doubt on the notion that certain tokens will replace the U.S. dollar as the world's reserve currency.

尽管 Coinbase 和 Circle 等公司提倡“支付稳定币”的概念，但数字货币代币作为现金的广泛使用仍然有限。最近的一项研究对某些代币将取代美元成为世界储备货币的观点提出了质疑。

The study argues that regimes opposed to U.S. monetary dominance have a strong incentive to ban digital currency technologies within their own borders. Authoritarian regimes, in particular, are wary of the potential for digital currencies to undermine their control over local economies.

该研究认为，反对美国货币主导地位的政权有强烈的动机在本国境内禁止数字货币技术。独裁政权尤其担心数字货币可能会破坏其对当地经济的控制。

Dollar-Based Stablecoins: A Hedge Against Inflation

以美元为基础的稳定币：对冲通胀

The study highlights the popularity of dollar-based stablecoins in countries experiencing rapid inflation and currency devaluations. This suggests that digital currencies could potentially strengthen the dollar's international role, although security concerns may temper enthusiasm among U.S. policymakers.

该研究强调了以美元为基础的稳定币在经历快速通货膨胀和货币贬值的国家的受欢迎程度。这表明数字货币可能会增强美元的国际地位，尽管安全担忧可能会削弱美国政策制定者的热情。

The possibility of government bailouts for stablecoin issuers or the seizure of Tether's alleged T-bill reserves could further dampen international trust in digital greenbacks.

政府对稳定币发行人进行救助或扣押 Tether 所谓的国库券储备的可能性可能会进一步削弱国际社会对数字美元的信任。

Conclusion

结论

Powell's insistence that the Fed is not plotting a CBDC may not assuage Republican fears. However, a recent study suggests that concerns about digital currencies as a global reserve currency are overblown. While stablecoin legislation remains stalled in Congress, the widespread adoption of digital currency tokens as cash faces significant challenges.

鲍威尔坚称美联储不会策划 CBDC，这可能无法缓解共和党的担忧。然而，最近的一项研究表明，对数字货币作为全球储备货币的担忧被夸大了。尽管稳定币立法在国会仍处于停滞状态，但数字货币代币作为现金的广泛采用面临着重大挑战。