Treasury Department developing tech for digital dollar as Congress debates crypto rules ...Middle East

The Hill - Technology
Treasury Department developing tech for digital dollar as Congress debates crypto rules
source : The Hill ( Middle East ) () 47
The Biden administration is working to develop technology to help create a central bank digital currency (CBDC) as the policy debate as to how to do so continues, a Treasury official said Wednesday.  Nellie Liang, Treasury under secretary for domestic finance, gave the update as part of a speech about how the administration is advancing plans for a potential CBDC. A CBDC would be used to issue a digital version of currency, meaning in the U.S. that the Federal Reserve would issue a digital dollar that could be used the same way regular dollars are used.  Federal Reserve Chair Jerome Powell has said that the central bank won’t take action to create a digital dollar unless directed

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