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U.S. Federal Reserve analysts have warned of "some potential" for the dollar's role as a medium of exchange to be eroded with the rise of well-designed foreign CBDCs.
WASHINGTON, March 9 — President Joe Biden today will order government agencies to begin work on creating a digital US dollar, White House officials said. Amid the explosive rise of private cryptocurrencies like bitcoin, the US effort will study benefits and potential risks while “placing...