Cryptocurrency News
Fitting the bill: US Congress eyes e-cash as an alternative to CBDC
2022.04.15 17:10
Fitting the bill: US Congress eyes e-cash as an alternative to CBDC
On March 11, United States President Joe Biden issued an executive order in which he encouraged the Federal Reserve to continue research on a prospective U.S. central bank digital currency, or CBDC.
The order emphasized that the market capitalization of digital assets had surpassed $3 trillion in November — with Bitcoin (BTC) representing more than half of the total value of all cryptocurrency and peaking at over $60,000 — up from just $14 billion five years prior. For comparison’s sake, the U.S. money supply (M1) in the same month was $20.345 trillion.
