US Treasury says Musk and DOGE Have Read-Only Access to Payments System

Politics and GovernmentPolitics and Government

Wed, February 5, 2025

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US Treasury says Musk and DOGE Have Read-Only Access to Payments System

^{Published on 2025-02-05 08:20:45 - Newsweek}

The Treasury Department has defended DOGE's access to its payment system, explaining they only have "read-only access."

The U.S. Treasury has clarified that Elon Musk and Dogecoin do not have access to modify the U.S. payments system, addressing concerns raised by a misleading report. The Treasury emphasized that any access granted to external parties, including for testing or demonstration purposes, is strictly read-only and does not allow for any changes or control over the system. This statement was in response to a report suggesting that Musk and Dogecoin had been given access to the FedNow system, which is part of the Federal Reserve's initiative to modernize payment systems. The Treasury's comments aim to reassure the public about the security and integrity of the U.S. financial infrastructure, highlighting that no external entities can alter or manipulate the system's operations.

Read the Full Newsweek Article at:
[ https://www.newsweek.com/us-treasury-says-musk-doge-have-read-only-access-payments-system-2026268 ]

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