US legislator proposes to launch digital dollar

US legislator proposes to launch digital dollar
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  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
  • bitcoinBitcoin (BTC) $ 20,074.00 1.37%
  • ethereumEthereum (ETH) $ 1,091.47 5.14%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.18%
  • bnbBNB (BNB) $ 218.79 4.55%
  • binance-usdBinance USD (BUSD) $ 1.00 0.11%
  • xrpXRP (XRP) $ 0.325923 3.38%
  • cardanoCardano (ADA) $ 0.462828 2.68%
  • solanaSolana (SOL) $ 32.94 7.96%
  • dogecoinDogecoin (DOGE) $ 0.068552 1.61%
PEOPLE/ECONOMY

US legislator proposes to launch digital dollar

US legislator released a proposal about Central Bank Digital Currency

06/22/2022

US legislator proposes to launch digital dollar

US lawmaker Jim Himes, a Connecticut House of Representatives member, released a white paper on Wednesday proposing for digital dollar.

In the white paper, Representative Jim Himes encouraged Congress to begin a discussion for exploring Central Bank Digital Currency in the United States of America.

Proposal for digital dollar

“It is now time for Congress to begin the process of considering and ultimately passing authorizing legislation for the issuance of a US CBDC,” Himes said.

“The longer the United States government waits to embrace this innovation, the further we fall behind both foreign governments and the private sector,” he added. “It is time for Congress to consider and move forward with legislation that would authorize a US CBDC.”

The proposal cited the importance of rolling out CBDC by the Federal Reserve, the issuer of digital dollars. It stated CBDC could prevent from lagging behind financial technology.

Moreover, the official statement mentioned that CBDC “should not be thought of as replacing legacy payment systems and currencies, but as an additional alternative for consumers and businesses.”

The discussion about cyber security, privacy, and transparency are in the proposal. In this case, regulatory frameworks on CNBC must comprise “strong user identification processes.”

According to the official paper, identification processes need “intermediaries to certify the identity of wallet holders.” It requires support from the Federal Reserve with the participation of commercial industries while directed.

By Marielle Petere Wozinga Staff

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