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U.S. Treasury recommends exploring creation of a digital dollar

The Biden administration is moving closer to developing a central bank digital currency, known as the digital dollar, saying it would reinforce the U.S. role as a leader in the world financial system.

A cryptocurrency mining rig equipped with Nvidia Geforce GPU at the Thailand Crypto Expo 2022 in Bangkok, Thailand, in May. The Biden administration is moving one step closer to developing a central bank digital currency, otherwise known as the digital dollar. It's a step that administration officials said would help reinforce the U.S. role as a leader in the world financial system.
A cryptocurrency mining rig equipped with Nvidia Geforce GPU at the Thailand Crypto Expo 2022 in Bangkok, Thailand, in May. The Biden administration is moving one step closer to developing a central bank digital currency, otherwise known as the digital dollar. It's a step that administration officials said would help reinforce the U.S. role as a leader in the world financial system.Read moreAndre Malerba / Bloomberg
    by Fatima Hussein, Associated Press
    Updated 
    Published