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Fed mulls digital dollar to take on China’s e-CNY
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WASHINGTON — Lawmakers are pushing the Federal Reserve to move swiftly toward issuing a digital dollar, to combat steps from China and others they say could one day threaten the US status as the global reserve currency.
The bipartisan group of lawmakers, including Representatives Maxine Waters and French Hill, has sought for the US to counter global competitors launching digital versions of their currencies. The House Financial Services Committee, which both serve on, might vote on related legislation as soon as next month.
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