Law in the United States pushing the federal reserve system to an early transition to a digital dollar. This will help maintain the status of the world reserve currency for the dollar in the fight against China, writes The Wall Street Journal.
The US Presidential Administration Joe Biden and the Fed does not share the feelings of urgency. The White House retains neutrality for digital currency. Joe Bidend ordered a study that will show how the digital dollar will affect the economy.
Law amendments are confident that the speedy transition to virtual currency will help the dollar maintain world leadership. For the United States, it is important to prevent the transfer of the status of the “world reserve currency” of Chinese yuan.
Analysts are afraid that the People’s Bank of China will cooperate with the central banks of other countries to make the use of digital currencies between states.
If this happens, then this type of transactions will become a “protective weapon” because they will be beyond the reach of Washington. For the United States, the dollar is one of the most important levers of influence on the world financial system.