ETA Releases '7 Guiding Principles' for Creation of U.S. CBDC

Digital Transactions Industry Offers Guidance for Government Financial Proposals

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Electronic Transactions Association (ETA)

May 05, 2021, 10:05 ET

WASHINGTON, May 5, 2021 /PRNewswire/ -- The Electronic Transactions Association (ETA) today released its "7 Guiding Principles for CBDC," which should guide the consideration of the creation of a U.S. Central Bank Digital Currency (CBDC).

ETA believes there is a common set of principles against which any proposed CBDC should be measured. As the federal government assesses a potential CBDC, it should carefully consider these principles and ensure that any proposal best serves the needs of consumers, furthers financial inclusion, preserves and strengthens the financial system, and ensures that consumers continue to have access to a robust and innovative array of secure banking and payment options.

"ETA and its members will work with the government to ensure that all Americans continue to have access to critical financial services, including the quick and secure delivery of government payments," said ETA CEO Jodie Kelley. "These '7 Guiding Principles for CBDC' are designed to evaluate whether the benefits of any proposal outweigh the negatives and significantly enhance the innovative, ubiquitous, and secure payments ecosystem that currently makes access to financial services a reality."

As the leading trade association for the digital transactions industry, ETA recommends that these principles guide the creation of any CBDC.

Download the "7 Guiding Principles for CBDC" here.

About ETA
The Electronic Transactions Association (ETA) is the global trade association representing more than 500 payments and technology companies. ETA members make commerce possible by processing approximately $22.5 trillion annually in purchases worldwide and deploying payments innovation to merchants and consumers.

Contact: Joe Feese, [email protected]

SOURCE Electronic Transactions Association (ETA)