What would be the impact of a US ‘digital dollar’?


Unlike money deposited in a bank account or spent via apps like Venmo and Apple Pay, it would be registered in the accounts of the Federal Reserve, not a bank. At the same time, the digital dollar would be worth the same as its paper counterpart, a divergence from cryptocurrencies which currently have highly volatile valuations. — Reuters

NEW YORK: US President Joe Biden has ordered the federal government to look into creating a digital dollar, a move with the potential to reshape how money is moved and used around the world.

Before his order results in a virtual greenback, there will be numerous major impacts – and risks – to consider first.

Unlock 30% Savings on Ad-Free Access Now!

Monthly Plan

RM13.90/month
RM9.73 only

Billed as RM9.73 for the 1st month then RM13.90 thereafters.

Annual Plan

RM12.33/month
RM8.63/month

Billed as RM103.60 for the 1st year then RM148 thereafters.

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Others Also Read


Want to listen to full audio?

Unlock unlimited access to enjoy personalise features on the TheStar.com.my

Already a member? Log In