Category: New York Federal Reserve

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New York Federal Reserve Staff Paper on Tornado Cash Concludes Ethereum Is ‘Not Immune to Censorship and Cooperation’

August 10, 2024

A staff report published by several New York Federal Reserve employees found that Ethereum “is not immune to censorship and cooperation,” which depends on the roles of several actors across the network. The paper examined how the network performed after Tornado Cash, one of the main mixers in the blockchain, was sanctioned by the OFAC.…
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New York Federal Reserve and US Banks Complete Programmable Dollar CBDC Test

July 8, 2023

The New York Federal Reserve and a group of financial institutions announced the successful conclusion of a proof-of-concept of the Regulated Liability Network (RLN), which contemplates the introduction of a dollar-based interbank central bank digital currency (CBDC). The test concluded that, using the RLN, the proposed CBDC might allow for near real-time dollar payments and…
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