Circle Asks US Fed Not to Step on Its Toes by Launching a Digital Dollar

Circle Internet Financial is arguing that the U.S. Federal Reserve should pass on launching its own digital dollar, arguing that it could strangle private-sector efforts such as Circle’s to manage their own dollar-based tokens. And Circle, the issuer of the USDC stablecoin, said in a comment letter to the Fed that its token is already meeting “many of the potential benefits” of a central bank digital currency (CBDC) in the U.S.