What is the future of money and payments?
The Future of Money and Payments Introduction 1 by existing systems, indicating there remain substantial opportunities to promote broader financial inclusion.3 Recent innovations in money and payments, including instant payment systems and stable- coins, could have far-reaching implications.
What is the Treasury's report on the future of money?
Fact Sheet: Treasury Report on the Future of Money and Payments WASHINGTON — On September 16, 2022, the U.S. Department of the Treasury published three reports pursuant to President Joe Biden’s Executive Order 14067 on “Ensuring Responsible Development of Digital Assets.”
What are the policy considerations for money and payment?
Policy considerations 38 Consideration 4: Minimizing risks A system of money and payment should have design features that protect the singleness of the currency, support financial stability, preserve credit creation, minimize the risk of illicit financial transactions, and promote environmental sustainability.
What are the three functions of money?
Money serves three core functions: a unit of account, a medium of exchange, and a store of value. It can be public money—primarily a liability of the central bank—or private money—a liability of a private intermediary. Payment systems transfer money.