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A bipartisan bill would require the U.S. Treasury secretary to publish a report on the dollar's role in the global economy, as well as how central bank digital currency efforts are proceeding.
Executive Order 14067, officially titled Ensuring Responsible Development of Digital Assets, was signed on March 9, 2022, and is the 83rd executive order signed by U.S. President Joe Biden. The ultimate aim of the order is to develop digital assets in a responsible manner. [ 1 ]
Rep. Tom Emmer (R-MN) recently re-introduced a bill that would effectively block efforts from the Fed and Biden administration to develop and institute a central bank digital currency (CBDC) that ...
Digital currency will help the US dollar maintain its power and underpin a new infrastructure for transactions and exchanges, Circle CEO and co-founder Jeremy Allaire told Yahoo Finance at the ...
Law professors who've long pushed for a digital dollar worked with Congress to bring the concept to a series of coronavirus relief bills earlier this week.
This set the stage for consideration of the bill by the entire U.S. House of Representatives in late May. [1] [2] On 22 May 2024 the bill was passed by the full House by a vote of 279-136, with 71 Democrats and 208 Republicans voting to support the measure. The bill passed over the vocal opposition of President Biden and SEC Chair Gary Gensler. [3]
Several polls have shown that Americans prefer the one-dollar bill to a dollar coin. "[L]egislation designed to eliminate the dollar bill will an excuse by the special interests to raise prices on everyday items--a future sales tax, to be levied on all Americans but falling the hardest on those who can least afford it."
Chamber of Digital Commerce's Perianne Boring and Neha Narula of MIT Media Lab explain central-bank digital currencies and what their emergence means for crypto and fiat money.