ETA Releases ‘7 Guiding Principles’ for Creation of U.S. CBDC
5-5-2021
WASHINGTON, D.C. – May 5, 2021 – 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 more than $7 trillion in purchases in the U.S. and deploying payments innovation to merchants and consumers.
###
About ETA
The Electronic Transactions Association (ETA) is the world’s leading advocacy and trade association for the payments industry. Our members span the breadth of significant payments and fintech companies, from the largest incumbent players to the emerging disruptors in the U.S. and in more than a dozen countries around the world. ETA members make commerce possible by processing approximately $56.75 trillion annually in purchases and P2P payments worldwide and deploying payments innovation to merchants and consumers.
ETAs membership spans the breadth of the payments industry to include independent sales organizations (ISOs), payments networks, financial institutions, transaction processors, mobile payments products and services, payments technologies, and software providers (ISV) and hardware suppliers. For more information, visit electran.org.