The US again criticizes the idea of a national cryptocurrency

The debate over the possible creation of a digital dollar continues. This time, Christopher Waller, a member of the Board of Directors of the Federal Reserve System (FRS), announced his disagreement with the idea of issuing a digital government currency (CBDC).

«The factors that support the primacy of the dollar are not technological, but include a sufficient supply and liquid market for US Treasury securities and other debt obligations, as well as the long-standing stability of the US economy and political system,» Waller said.

In his opinion, the launch of the CBDC will not affect the dollar’s functions as a unit of account and a savings instrument, and is unlikely to provide material benefits beyond the economy.

However, the White House may disagree with Waller, as it has recently become known that the office of the US President is actively exploring the possibilities of a national cryptocurrency. Not least because of China’s Napoleonic plans in this direction. However, bitcoin, which is familiar to everyone, can become a substitute for CBDC.