Fed Takes Key Step in Deciding on U.S. Digital-Coin Issuance (2)

The Federal Reserve took a key step in weighing the creation of its own digital currency, a move it said could help ensure the U.S. dollar’s dominance as the central bank grapples with fast-growing private cryptocurrencies and coins issued by other nations.

The central bank made no firm conclusions on whether issuing such a currency was prudent and in any case said it doesn’t intend to proceed without support from the White House and Congress -- so it’s not likely a U.S. digital dollar will be issued anytime soon. But the 35-page discussion paper issued Thursday on a government-backed coin, ...