Future of Money

The current patchwork of regulations around the globe creates more confusion, more friction in payments, and ultimately higher costs for consumers.

US policymakers should both protect and promote legal remittance channels to ensure that these funds can flow safely and efficiently.

These lessons are shaping a framework governments can use to evaluate their need for central bank-led immediate payment systems, their potential structure, organizational features, and the trade-offs involved.

All policymakers agree on one point: both CBDCs and stablecoins will significantly impact the global role of the US dollar.

What does success on the regulatory front actually look like? What does it mean for the rest of the world? We dive into the dozen bills under consideration in Congress and zoom in on the three big themes for crypto regulation in 2025.

Bringing bitcoin into mainstream use is not reason enough to create a strategic bitcoin reserve. 

Good policy intentions can lead to unintended consequences when usability, privacy, and security are not balanced—policymakers must think like product designers to avoid these challenges.

The race for the future of money is on, so here are the key items to catch you up on what a central bank digital currency is—and what it isn’t.

Imagine a network that combines both messaging and settlement to become a one-stop shop for international payments. It’s time for the US and its allies and partners to make that idea a reality.