Is the United States going to digital currency?

Are there any indications that the United States is moving towards adopting a digital currency? If so, what are the potential benefits and drawbacks of such a move? How would it impact the current financial system and the role of traditional banks? Would it make transactions faster, cheaper, and more secure, or could it potentially lead to increased privacy concerns and financial instability? Are there any regulatory challenges that need to be addressed before a digital currency can be implemented in the US?