Former US CFTC chair makes push for state backed "Digital Dollar"

posted 6 months ago
Former Commodity Futures Trading Commission (CFTC) Chairman J. Christopher Giancarlo wants to create a US central bank digital currency (CBDC). He created the Digital Dollar Foundation and said "An analog reserve currency does not serve modern users. A digital dollar would help future-proof the greenback and allow individuals and global enterprises to make payments in dollars irrespective of space and time,” he said.

The proposed Digital Dollar would be a tokenized form of the US currency that acts as a digital settlement medium. The digital dollar would “meet the demands of the new digital world and a cheaper, faster and more inclusive global financial system,” Giancarlo said.
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