{"id":466596,"date":"2022-06-22T20:30:00","date_gmt":"2022-06-22T17:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/us-lawmaker-lays-out-case-for-a-digital-dollar\/"},"modified":"2022-06-22T20:30:00","modified_gmt":"2022-06-22T17:30:00","slug":"us-lawmaker-lays-out-case-for-a-digital-dollar","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/us-lawmaker-lays-out-case-for-a-digital-dollar\/","title":{"rendered":"# US lawmaker lays out case for a digital dollar"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a26b90409d9d\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a26b90409d9d\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/us-lawmaker-lays-out-case-for-a-digital-dollar\/#%E2%80%9D_US_lawmaker_lays_out_case_for_a_digital_dollar_%E2%80%9C\" >&#8221; US lawmaker lays out case for a digital dollar &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_US_lawmaker_lays_out_case_for_a_digital_dollar_%E2%80%9C\"><\/span>&#8221; US lawmaker lays out case for a digital dollar &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Connecticut House of Representatives member Jim Himes has released a proposal aiming to start a dialogue on the United States potentially launching a central bank digital currency, or CBDC.<\/p>\n<p>In a white paper released on Wednesday, Himes <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/himes.house.gov\/_cache\/files\/3\/d\/3da9ff6d-4e8a-47b7-be28-ced21ecb5724\/2F46398524B2AD91FD40BDC5263F4F23.himes-cbdc-white-paper.pdf\">urged<\/a> Congress to begin exploring the rollout of a digital dollar issued by the Federal Reserve to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/himes.house.gov\/_cache\/files\/3\/d\/3da9ff6d-4e8a-47b7-be28-ced21ecb5724\/2F46398524B2AD91FD40BDC5263F4F23.himes-cbdc-white-paper.pdf\">prevent<\/a> the government from falling behind in innovations in financial <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a>. According to the U.S. lawmaker, a CBDC \u201cshould not be thought of as replacing legacy payment systems and currencies but as an additional alternative for consumers and businesses.\u201d<\/p>\n<p>The white paper laid out a proposal in which a CBDC could present concerns over transparency, security and privacy when compared with fiat currency. Himes added that any regulatory framework on CBDCs enacted by Congress should include \u201cstrong user identification processes that require inter<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>ries to certify the identity of wallet holders,\u201d with the Federal Reserve and \u201cparticipating commercial entities\u201d establishing guidance. <\/p>\n<p>\u201cThe longer the United States government waits to embrace this innovation, the further we fall behind both foreign governments and the private sector,\u201d said Himes. \u201cIt is time for Congress to consider and move forward with legislation that would authorize a U.S. CBDC.\u201d<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-06\/edee0364-5a4a-4d54-871c-41cd3eb43823.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Source: CBDC white paper, Representative Jim Himes.<\/em><\/figcaption><\/figure>\n<p>Different agencies and departments within the U.S. government have explored the possible effects of a digital dollar in the event officials decide to launch one. In May, the Fed released a report concluding that \u201cmonetary policy implementation from a retail CBDC are highly dependent on the initial conditions of the Federal Reserve\u2019s balance sheet.\u201d\u00a0<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Democrat division over crypto isn\u2019t all bad <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> for regulation<\/em><\/strong><\/p>\n<p>Among lawmakers in the United States, Himes has often pushed for congressional action on cryptocurrencies \u2014 specifically in regard to the technology being used to check Russia&#8217;s potential to evade sanctions \u2014 and introduced a section of a bill that many criticized as giving the Treasury Secretary unchecked power over certain crypto transactions. Minnesota Representative Tom Emmer also introduced a bill in January aimed at preventing the Fed from acting as a retail bank in the potential issuance of a digital dollar, suggesting lawmakers have not yet reached a consensus on a U.S. CBDC.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/us-lawmaker-lays-out-case-for-a-digital-dollar\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; US lawmaker lays out case for a digital dollar &#8220; Connecticut House of Representatives member Jim Himes has released a proposal aiming to start a dialogue on the United States potentially launching a central bank digital currency, or CBDC. In a white paper released on Wednesday, Himes urged Congress to begin exploring the rollout&#8230;<\/p>\n","protected":false},"author":1,"featured_media":466597,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvNjY3MjlhYzItZWY0Ny00MWEwLWIzZTEtYjEwYmNhYmZjZTA1LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75046,89665,71511,70934,67874],"class_list":["post-466596","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cbdc","tag-digital-dollar","tag-government","tag-regulation","tag-united-states"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/466596","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=466596"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/466596\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/466597"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=466596"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=466596"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=466596"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}