Tag Archives: digital dollar

The decision of Governor DeSantis to ban CBDCs in Florida has drawn criticism from some legal experts. Ron DeSantis, Governor of Florida recently signed a bill prohibiting the use of central bank-issued digital currencies (CBDCs) in the state. And now, his move may have set a precedent for other states to follow. For DeSantis and many more like him, a CBDC defeats the aim of decentralization being that it is controlled by a centralized entity – the government. They also argue that through...

Is the United States closer to developing a digital dollar? According to a new report, it could be. A Digital Dollar Could Be on Its Way The order for a digital dollar first “officially” came about when Joe Biden issued a crypto executive order earlier in the year asking federal agencies throughout the country to look at the benefits and risks of crypto assets. The order also paved the way for a digital dollar’s creation, though to be fair, this wasn’t necessarily Joe...

Eric Rosengren – the former president of the Federal Reserve Bank of Boston – stated in an interview that he is quite fond of the idea of a digital dollar. He thinks the United States would benefit greatly from using such a tool, and he’s convinced it will not get in the way of bitcoin’s path towards greatness. Eric Rosengren Thinks a Digital Dollar Could Work for the Country If only China could have such an attitude. One of the big reasons, analysts speculate, why China...

Federal Reserve Chairman Jerome Powell took the stand to discuss bitcoin and other cryptocurrencies with the U.S. Financial Services Committee. He stated to the panel that if the United States had its own digital currency in play, bitcoin would serve no purpose and would ultimately disappear. Jerome Powell Doesn’t Appear Against the Idea of a National Digital Currency Powell explained: One of the arguments that are offered in favor of a digital currency: you would not...

Billionaire investor and former hedge fund manager Mike Novogratz is saying that the United States is going to seriously fall behind granted it does not develop a digital dollar in the immediate future. Mike Novogratz: We Need a Digital Dollar Mike Novogratz has always been a huge bitcoin and cryptocurrency advocate, and he feels that in many ways, digital assets will be the future of money. Thus, he is urging the United States to take control of the financial reins. He...

The Boston, Massachusetts Federal Reserve has announced plans to potentially unveil a digital dollar in the coming years.The Boston Fed Is Working on a Digital Currency of Its OwnAs it stands, the plans won’t come about for a while, as the organization is basically toying with the idea for now, though it ultimately believes that the world will have to resort to digital currency in the coming future, and the Fed is looking to get a head start. The organization is working with researchers at...

The U.S. Senate Banking Committee is back to discussing bitcoin, stable coins, and a potential digital dollar.Is a Digital Dollar Heading Back to the Drawing Board?The idea of a digital dollar first made its way into Senators’ minds when the $2.2 trillion stimulus package was introduced in late March. Many regulators and lawmakers thought a digital dollar that could potentially be deposited straight into peoples’ bank accounts would be a better way of handling distributions over paper checks,...

Digital won will pass extensive testing by the Bank of Korea staff. Per the official announcement, the program will last until December 2021.South Korean businesses and officials were talking about the government-backed stablecoins since December 2018. The Central Bank was hiring different industry experts. The experts prepare research on the CBDC related progress in other countries. Also, they propose own legal initiatives to improve the project. Now the Central Bank seems to be working...

The digital dollar was recently cast out of the United States’ $2 trillion economic stimulus package designed to boost the country’s infrastructure following damage caused by the coronavirus.The Digital Dollar Could Have Done So MuchMany analysts agree that the notion of a digital dollar would likely be of great aid to bitcoin and the crypto industry, and that regulators initially missed a huge opportunity to support one of the finance world’s biggest tools.While the idea of digital dollar...

As Congress went back and forth regarding the latest $2 trillion stimulus package designed to help America out during these strenuous times, many lawmakers suggested the idea of a digital dollar to potentially get things moving in the right direction.The Digital Dollar Has Failed… Or Has It?The digital dollar would have been an extension of USD. Instead of receiving paper checks in the mail, American citizens would instead receive digital funds as a means of ensuring that they did not handle...