President Biden signed an executive order on Wednesday to explore establishing a U.S. Central Bank Digital Currency (CBDC) — also known as a “U.S. digital dollar” — akin to a cryptocurrency.
One key difference between the digital dollar and cryptocurrency is that the former would be subject to some regulation by central banks. So, for instance, the Federal Reserve could issue some monetary policy around issuance rates, address any inflation concerns and more. Senior Biden administration officials told reporters that already there are more than 100 countries that are looking into issuing their own centralized digital currencies.
By 6 a.m. ET, when the announcement of the order was official, Bitcoin had risen by over 9.5% over the previous day, according to Coinbase.
- Stanford business study shows bank values are actually $2trillion lower than book value
- Fifty More US Banks on the Verge of Failing
- Putin Announces Agreement for the Yuan to Become the New Global Reserve Currency
- Incredibly Good Article in The Economist About the Banking Crisis
- Are They Actually Trying To Crash The Economy On Purpose?
- UBS may bail out of the Credit Suisse deal, too many issues.
- UKRAINE WAR ENDING?
- To the moon! The interest payments of the US Government as old debt is rolled into new one.
- The UN Moves to Take Control of ALL Water
- Elon Musk responds to Biden’s bullshit nationalization of land in Texas