U.S. government officials are another step closer to introduce the Central Bank Digital Currency (CBDC) to replace physical cash. U.S. Under Secretary of the Treasury Nellie Liang stated the following in a speech after US president Joe Biden issued an executive order exactly 1 year ago directing agencies to begin researching the possibility of introducing a CBDC and how to regulate digital assets:
“… leaders from Treasury, the Federal Reserve, and White House offices, including the Council of Economic Advisors, National Economic Council, National Security Council, and Office of Science and Technology Policy, will begin to meet regularly to discuss a possible CDBC and other payments innovations.”
Her comments clearly show that the implementation of government controlled digital money has been taken one step further.