Today the U.S. Senate Committee on Banking, Housing, and Urban Affairs held a virtual hearing on the Digitization of Money and Payments with a focus on central bank digital currency (CBDC). Much of senators’ questions focused on the motivation for a digital dollar, the two key ones being the international status of the U.S. dollar, and whether or not a CBDC would enable inclusion for the unbanked and underbanked. While privacy and anonymity were mentioned, the other main issue addressed was the steps needed to make it happen.
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