The Crypto Report: US government to look into digital currency option, Biden confirms

President Joe Biden will sign an executive order today requiring the US government to assess the risks and benefits of creating a central bank digital currency (CBDC),.

According to the official, the US will move forward cautiously on the project given the dollar’s role as the world’s primary reserve currency. A CBDC is a digital form of a country’s fiat currency, like cryptocurrency, but issued by the government in the same way as traditional paper money.