As we have told you several times, the central bank digital currency, or CBDC for short, is an increasingly debated topic, as each state strives to keep up with the times and not waste time. However, the US did not respond actively to this issue at first, and the digital dollar was not on the table or as a proposal. That changed a few weeks ago when President Biden ordered positives and negatives to be written upon the subject, most recently with the United States Federal Reserve itself gradually preparing for the CBDC, even if it will take some time.
The United States Federal Reserve has released a statement mentioning the possibility that the central bank’s digital currency will be on the table. They believe that now is the right time for such efforts, as technology is constantly improving. It would still take years for the United States to gradually implement its digital currency on the basis of this document, as it would still take years, for example, compared to countries such as China, Japan, or India, which have already begun to implement, the United States is far behind.