Strictly speaking, what Biden will announce is something that hundreds of countries are advancing at different speeds.
The executive order will direct his administration to give “the highest priority to the development and investigation of a potential Central Bank Digital Currency (CBDC) for the United States.”
However, a White House source indicated that “we must be very careful, because the implications” in case of adopting the digital dollar “would be very profound for the country whose currency is the main world reserve currency.”
The senior official assured that the most advanced digital currency projects in other countries or currency zones “do not threaten” the hegemony of the dollar.
The global rise of cryptocurrencies such as bitcoin, and the growing use of digital payment systems, sparked interest in creating an official digital currency that is in tune with this trend.
Source: Ambito
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