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US Lawmakers Introduce Bill to Require Digital Dollar
Summary: A pair of U.S. Congressmen have introduced a bill that would require the Treasury Department to evaluate the digital yuan, digital dollar and the actual dollar’s role in the global economy. The bipartisan bill, introduced by Reps. French Hill (R-Ark.) and Jim Himes (D-Conn.), seeks to ensure the U.S. dollar remains the world’s reserve currency ...
A pair of U.S. Congressmen have introduced a bill that would require the Treasury Department to evaluate the digital yuan, digital dollar and the actual dollar’s role in the global economy.
The bipartisan bill, introduced by Reps. French Hill (R-Ark.) and Jim Himes (D-Conn.), seeks to ensure the U.S. dollar remains the world’s reserve currency and directs the Treasury Department to publish a report that evaluates current policy and governance around the currency.
Under the terms of the bill, dubbed the “21st Century Dollar Act,” the treasury secretary (currently Janet Yellen) would submit a report to the Senate Banking and House Financial Services committees that includes “a description of efforts by major foreign central banks, including the People’s Bank of China, to create an official digital currency, as well as any risks to the national interest of the United States posed by such efforts.”
By Amy Liu
Tags: Bill,Digital Dollar,US
Link: US Lawmakers Introduce Bill to Require Digital Dollar [Copy]
