Digital Dollar Takes Centre Stage Ahead of 2024 US Elections

US presidential candidates like Ron DeSantis and Vivek Ramaswamy have added fresh depth to the discussion of the function of central banks in the economy.

To gain early support for their campaigns, these politicians have said they would oppose any plans for a digital US currency supported by the central bank.

In the United States, a CBDC, or digital currency issued by a central bank, still needs to be revised.

Those at the Federal Reserve question whether or not regular Americans need one. The Fed has also indicated that it would require congressional permission before introducing a digital dollar.