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Digital US Dollar Sliced from Stimulus Bill


After getting a lot of people excited, the latest version of the USA's stimulus bill, the Take Responsibility for Workers & Families Act, has removed all mention of a digital US dollar or digital wallet framework.


Many had been very excited to see a proper framework in a bill, and had seen really interesting prospects for the use of a CBDC for the distribution of stimulus money and it is a real shame that what could have been a bold and innovative move by the US will now leave China to be the first to issue a CBDC.


The positive is that the original bill will remain a source of inspiration to the deployment of a digital dollar and how that might function to bring into alignment the creation of paper and digital money at the Reserve Bank level.