Digital Dollar Removed from Bill to Stimulate US Economy
Main page News, US, Coronavirus

The new revision of the bill aimed at stimulating the US economy after the coronavirus pandemic that was introduced by Democrats in the US House of Representatives includes no mention to the digital dollar.

Even though yesterday it was reported this bill mentioned the creation of a digital dollar as part of the mechanism to stimulate the country's economy to mitigate the impact of the COVID-19 crisis, the new version has removed all references to this digital asset.

In the previous version of the bill, the digital dollar was referred to as "a balance expressed as a dollar value consisting of digital ledger entries that are recorded as liabilities in the accounts of any Federal reserve bank."

Although the mention to the digital dollar has been removed from the current version of the bill, it is still kept in a separate bill advanced by the members of the House Financial Services Committee.

It looks like the main problem related to the launch of a digital dollar is the creation from scratch of the whole system on which this new asset would be based.

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