United States of America: Issued OSTP Report On Technical Design Choices for a Central Bank Digital Currency System

On 16 September 2022, the United States Office of Science and Technology Policy (OSTP), in consultation with other federal departments and agencies, issued a technical design choice report for a Central Bank Digital Currency System (CBDC). The report aims to help policymakers understand design choices and their risks and benefits. The report focuses on several design aspects, such as participants, governance, security, transactions and data. The report introduces technical limitations and complexities to highlight the preferability of a permissioned CBDC system, meaning that it would be managed by a set of trusted entities rather than permissionless ones and managed by a network of system participants.