Another section calls for a study on “the potential impact” of a central bank digital currency (CBDC), or digital dollar, on the Fed’s monetary policy tools, U.S. financial sector, banking sector and financial stability, as well as to payment services. The Treasury Department, alongside the various regulators, would have to report to the Financial Services Committee, as well as the Senate Banking Committee, the results of this study within 180 days.

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Author: Nikhilesh De

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