According to Odaily: Federal Reserve Chairman, Powell, on March 21, weighed in on the issue of the Central Bank Digital Currency (CBDC), stating that it is premature for the Federal Reserve to investigate it. He affirmed that for a digital dollar to be launched, legislative authorization is mandatory. It was made clear that the Federal Reserve is far from launching a Central Bank Digital Currency of its own. This stance by the Chairman emphasizes the complexity and regulatory challenges the potential adoption of digital currencies presents to financial establishments globally.