Can a digital currency be used in the United States?

Our Standards: The Thomson Reuters Trust Principles. The U.S. nonprofit Digital Dollar Project said on Monday it will launch five pilot programs over the next 12 months to test the potential uses of a U.S. central bank digital currency, the first effort of its kind in the United States.

Could a central bank 'digital currency' be a digital currency?

As technology continues to revolutionize the way people live, work and spend, central banks around the globe have kicked off efforts to reinvent their local currencies for the digital era. Now, the United States is the latest to signal “urgency” in researching a potential digital version of its dollar via a Central Bank Digital Currency, or CBDC.

Is it time for the US to adopt digital currency?

The presidential executive order is hardly the only time the federal government has asked itself whether it is time for the U.S. to adopt digital currency. Just a few months after the Biden executive order, the New York Federal Reserve launched a 12-week program using simulated data to test a so-called digital dollar.