In his executive order signed Wednesday, President JoeBiden called for the “highest urgency” to be placed on the research and development of a potential U.S. CBDC. cheyenneligon reports
U.S. President Joe Biden called for an urgent, government-wide focus to be placed on the research and development of a potential central bank digital currency in his executive orderThe order calls for a full-scale assessment of the potential benefits and risks of a CBDC, both for consumers and investors as well as the broader U.S. financial system.
There are several organizations already researching and piloting CBDCs in the United States, including the Boston Fed on CBDC technology, and the Digital Dollar Project, a public-private partnership founded by consulting firm Accenture and Chris Giancarlo, the former chairman of the Commodity Futures Trading Commission .
David Treat, global blockchain lead at Accenture, told CoinDesk that the government will need to work with industry leaders if it wants to get things done right – and quickly.
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