Fed's Barr says central bank 'a long way' from any decision on issuing digital currency

The Federal Reserve's top regulatory official said Friday the central bank is "a long way" from any decision on if it would issue its own digital currency, and added it would not do so without official support in Washington.

Fed Vice Chair for Supervision Michael Barr said while officials are investigating a central bank digital currency, it was far from any decision. He added the Fed would only proceed with one with "clear support" from the president and authorizing legislation from Congress.