Congressman Jim Himes puts out white paper for digital dollar

06/22 15:57

With heightened political attention on digitizing the dollar, one member of Congress has laid out his vision. On June 22, Rep. Jim Himes (D-CT) released a white paper called "Winning the Future of Money: A Proposal for a US Central Bank Digital Currency." It includes a general summation of CBDC adoption globally, as well as the traditional appraisal of pros and cons of a CBDC. However, the white paper is clearly supportive on Congress' move to authorize the Federal Reserve to issue a CBDC. Today's whitepaper highlights that "a U.S. CBDC would present novel and serious privacy challenges." While Himes' proposal maintains the need for commercial banks to handle retail user accounts, it specifies an "account-based" rather than "token-based" structure, entailing "strong user identification processes that require intermediaries to certify the identity of wallet holders."
bullishbullishbullish8bearishbearishbearish3LikeShare
DisclaimerThe content above does not represent HTX's positions.HTX does not provide any trading recommendations.

Related Articles

  • Image

    VItalik Buterin Defends Long-Term Vision Amid Token Price Concerns

  • Image

    Bitcoin Spot ETFs Bleed $1.26 Billion In Largest Net Outflows In 3 Months – Details

  • Image

    Bitcoin Bottom May Be 2 Months Away, On-Chain Data Suggests

All Comments0LatestHot

avatar
LatestHot

Related Articles

  • Image

    VItalik Buterin Defends Long-Term Vision Amid Token Price Concerns

  • Image

    Bitcoin Spot ETFs Bleed $1.26 Billion In Largest Net Outflows In 3 Months – Details

  • Image

    Bitcoin Bottom May Be 2 Months Away, On-Chain Data Suggests