Ever since US President Joe Biden took office, his stance on cryptocurrencies has been questioned. From time to time, we made headlines about his statements about cryptocurrencies. Today, a decision has been made that concerns the entire blockchain world. US President, ordered the treasury department to conduct research on the digital dollar.
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The new executive order issued by the President of the United States concerns the treasury department. Some of the officers in this department are interested in cryptocurrencies. to the individual economy and to the overall economy of the country He was tasked with investigating how it might affect him. This means that in the near future, the US Government may start to be interested in cryptocurrencies. Now a remote possibility However, it is also possible for the government to issue its own cryptocurrency.
This approved strategy also includes collaboration with the Federal Reserves and experimentation with other countries. As a result, a central bank-linked digital currency will either be drafted or even go further and be released. In addition, there is a goal to prevent illegal transactions, which is one of the points where cryptocurrencies are most criticized. if Supported by the US GovernmentIf a digital currency with a precaution against illegal transactions is released, its back will be quite solid.
We wonder if we will encounter a ‘digital dollar’ in the future. If the US launches its own cryptocurrency, cryptocurrencies will now have their highest credibility. Right now El Salvador, While it has been blasted for making Bitcoin its official currency, a country’s creation of its own cryptocurrency could create a different scenario.