Is the US creating a digital dollar?

These benefits range from increased efficiency in financial transactions to enhanced financial inclusion and improved monetary policy transmission.

The Federal Reserve has yet to make a definitive decision on the pursuit or implementation of a central bank digital currency, commonly referred to as CBDC.

However, the exploration has also highlighted the potential risks associated with CBDCs, including privacy concerns, cybersecurity threats, and the potential for disruption to the existing financial system.

In the absence of a clear directive, various stakeholders have been actively engaged in exploring the potential implications of CBDCs.

This exploration has been multifaceted, encompassing various angles such as technological advancements and their potential impact on the financial system.