GOP Reps. Say 'Digital Dollar' Must Serve US Interests

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By Elise Hansen (November 15, 2021, 7:51 PM EST) — The U.S.’s global competitiveness should be the main factor when considering the possibility of a digital dollar, Republicans on the House Financial Services Committee said in a statement Monday outlining their core principles around central bank digital currencies.

The lawmakers, led by ranking member Rep. Patrick McHenry, R-N.C., issued a framework outlining their overarching goals and concerns as the U.S. weighs whether it should develop and issue a central bank digital currency. The term typically refers to a form of digital currency that’s issued and regulated by a nation’s monetary authority, like fiat currency, but that borrows elements from the cryptocurrency…

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