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Digital Dollar

All articles tagged with #digital dollar

politics5 months ago

Trump Signs Key Crypto Legislation Amid Growing Digital Currency Debate

The US House faced internal Republican conflict over a bill to ban the Federal Reserve from issuing a digital dollar, with conservative hardliners pushing for the ban amid fears of government surveillance and overreach. Despite bipartisan support for regulation, conservatives secured promises to attach the ban to broader legislation, though it is unlikely to become law. The debate reflects concerns over government control, privacy, and competition with private cryptocurrencies, with significant lobbying from banks and crypto interests.

via Bloomberg.com|
#cryptocurrency-regulation#digital-dollar#fed-digital-currency-ban
politics1 year ago

House Blocks Federal Reserve from Creating Digital Dollar

The House passed a bill preventing the Federal Reserve from issuing a central bank digital currency (CBDC) without explicit congressional authorization, with a 216-192 vote largely along partisan lines. The bill, introduced by House Majority Whip Tom Emmer, reflects Republican concerns about potential government misuse of a CBDC, despite the Fed's lack of current plans to issue one. Democrats argue that the bill threatens U.S. dollar primacy and stifles innovation.

via The Hill|
#cbdc#digital-dollar#federal-reserve
finance2 years ago

US Presidential Hopefuls Unite Against Digital Dollar in 2024 Elections.

At least three US presidential candidates from both parties have expressed opposition to a central bank-backed digital US dollar, which is still far from becoming a reality. Some officials at the Federal Reserve have also expressed doubt over the need for one, while Republicans on Capitol Hill have introduced legislation to ban such direct-to-consumer CBDCs, saying they could be used by the federal government to surveil US citizens. Proponents argue that a digital dollar could offer real benefits, including making payments faster and ensuring the dollar's dominance in the global economy.

via Slashdot|
#cbdc#cryptocurrency#digital-dollar
politics2 years ago

2024 Presidential Candidates Oppose Digital Dollar Implementation.

US presidential hopefuls, including Ron DeSantis and Vivek Ramaswamy, are rallying against proposals for a central bank-backed digital US dollar ahead of the 2024 election. They are making it clear that they do not support the idea, reflecting a desire to galvanize their base. The conversation around the role of central banks in the economy has taken on a new dimension among these politicians.

via Bloomberg|
#central-banks#digital-dollar#politics