U.s. House of Representatives: Digital Dollar Will Ensure That The Dollar Becomes a Global Reserve Currency

Jun 23,2022
KingData News: In a white paper, U.S. Rep. Jim Himes said the digital dollar would support the dollar's role as a global reserve currency, could support underbanked individuals and could be more creditworthy than stablecoins issued by private companies. The white paper says that CBDCs will have advantages over privately issued stablecoins and crypto assets, most notably the ability to be backed by U.S. government credit like traditional cash, and will provide holders with a degree of security. In addition, CBDC may pose a risk to privacy or security as well as broader monetary policy. jim Himes recommends that the Federal Reserve experiment with privacy and encryption tools to protect consumer data.
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