United States of America: Issued Treasury report on The Future of Money and Payments

On 16 September 2022, the United States Treasury issued a report entitled "The Future of Money and Payments", pursuant to Section 4(b) of Executive Order 14067 on Ensuring Responsible Development of Digital Assets. The report includes a general overview of the money and payments system in the US, lists the stablecoins available on the market and presents the latest developments in the instant payment market. The report notes that stablecoins could lead to safer, more inclusive and faster payment systems and recommended the creation of a US-based central bank digital currency (CBDC). The report states that a CBDC would increase the use of instant payment systems and lead to better cross-border payment regulations. Finally, the report recommends creating a regulatory framework for payments at the Federal level to ensure the protection of consumers and provide stability in the financial system.