This news article discusses the debate surrounding the creation of a central bank digital currency (CBDC) in the United States. While many countries, including China, are exploring CBDCs and even implementing them, the US government has taken a different stance. President Donald Trump signed an executive order prohibiting the establishment and use of CBDCs in the country, with the Treasury nominee and other experts citing concerns about privacy and economic impact. The article also mentions that 66 countries are currently exploring CBDCs, with China leading the way. The European Central Bank is also expanding its development of a wholesale CBDC payment system. The article concludes by noting that while the US is lagging in the CBDC race, the adoption of privately issued digital assets and stablecoins is likely to disrupt traditional banking institutions and push other countries to adopt CBDCs.



Other News from Today