THE United States, one of the world’s largest economies, seems set to accelerate movement towards the integration of digital assets as a means of providing financial services, including money and payments.

Last week, United States Undersecretary for Domestic Finance Nellie Liang indicated that the US Treasury Department will be issuing reports and recommendations intended on guiding discussion of a central bank digital currency (CBDC) and similar assets used as currency.

 

The move follows US President Joe Biden’s signing of an executive order (EO), in early March, which called for a coordinated approach to the development of digital assets in the national payments system.

 

The primary objective of the order is to address the risks and harness the potential benefits of digital assets which will reinforce American economic competitiveness and global financial leadership, Liang outlined in an address to the National Association for Business Economics on March 22.

https://www.jamaicaobserver.com/sunday-finance/the-future-of-money-us-treasury-to-assess-cbdc-digital-currency-risks_247188