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How long before there’s a digital dollar?

The United States on Friday took a big step toward launching a central bank digital currency (CBDC). The Treasury Department recommended moving forward on development of a CBDC as part of the White House’s first-ever comprehensive framework on the responsible development of digital assets.

The framework follows US President Joe Biden’s March executive order in which he not only outlined the government’s approach to digital assets, but also asked several government agencies to jot up policy recommendations for the approach, tackling everything from the digital dollar to regulations on cryptocurrency.

We reached out to our experts from the GeoEconomics Center to tell us their top takeaways from the reports and what they mean for the United States’ role in the international financial system—and just how quickly the dollar can go…

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