Biden orders CBDC report from Fed and other agencies

Report must advise on how possible CBDC would affect US security and sovereignty

Joe Biden
Joe Biden
Gage Skidmore

US president Joe Biden has ordered government agencies, including the Federal Reserve, to develop a central bank digital currency (CBDC) proposal within seven months.

The March 9 executive order gave the Fed and other agencies 180 days to submit a report on a CBDC. The report must deal with issues arising from national security, financial inclusion, privacy, money laundering and monetary sovereignty.

Acting Fed chair Jerome Powell was directed to develop a nationwide plan for the “launch of a

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