Biden calls on the government to study the digital dollar

The White House said US President Joe Biden has signed an executive order asking the government to assess the risks and benefits of creating a digital dollar for a central bank, as well as other issues related to cryptocurrency. Administration officials stated that the United States is paying great attention to deciding whether to proceed with the development of a digital dollar, given the dollar's role as the world's primary reserve currency.

Administration officials added that the US dollar is still backed by basic fundamentals, including a commitment to transparency, the rule of law, and the full independence of the Federal Reserve, and that the dollar's role has been, and will continue to be, critical to the stability of the international monetary system as a whole.