Biden orders work to begin on future digital dollar

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AFP

Washington (AFP) – President Joe Biden on Wednesday ordered government agencies to begin work on creating a digital US dollar, weighing the risks and benefits of a move that could be a game changer for the global financial system. Coming amid the explosive rise of private cryptocurrencies like bitcoin, the US effort will place “the highest urgency on research and development efforts into the potential design and deployment options of a United States” digital currency, according to an executive order signed by Biden. “A United States CBDC may have the potential to support efficient and low-cost…

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