The Fed doesn't want the competition.
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So, now that Diem is up for grabs, the big question is: will the Fed step in, co-opt the technology, and use it to catch up with the PBOC, which has already produced its own "e-RMB" (even if the project appears to still be in the troubleshooting phase)?
Meta Reportedly Abandons Diem Stablecoin Project After Intense Government Opposition
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