Congress Weighs Digital Dollars for Aid After Stalled COVID-19 Stimulus Payments

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Congress Weighs Digital Dollars for Aid After Stalled COVID-19 Stimulus Payments

In the aftermath of disappointingly slow COVID-19 stimulus payments, Congress hears testimony on using digital dollars to upgrade the U.S.’s legacy financial infrastructure.

Source: Congress Weighs Digital Dollars for Aid After Stalled COVID-19 Stimulus Payments

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[Alcor]

The United States is already lagging behind in the global trend towards a transition to a digitized national currency. Its main competitor in the trade confrontation - China has been testing its digital yuan for a long time, and the US Congress is just beginning to think about issuing its digital dollar. Meanwhile, various commercial structures have long been using the dollar to secure their stable coins. The US government is already lagging behind in this regard.