News

US Federal Reserve Likely To Float Digital Dollar To Stay At Par With China

While U.S. President Donald Trump has specifically tweeted about how he’s “not a fan of Bitcoin and other Cryptocurrencies” because they are “not money” the U.S. Federal Reserve has a different opinion about cryptocurrencies and is actively looking into issuing its own CBDC.

China is likely to be the first country to issue its own CBDC as the government has said that it is ready to do so, but hasn’t given a date yet. Facebook’s Libra is also putting the U.S. government on edge as they don’t want to relinquish that much power to either China or Facebook. Other Fed Reserve execs have also said the agency is open to the possibility. As long as nothing changes, there might be a strong chance America will get a digitized dollar, sometime in the future.

Leave a Reply

Your email address will not be published. Required fields are marked *