Updated on 3/24/20 at 11:45 AM: The final form of the economic stimulus package provided by Speaker Pelosi the House Democrats no more includes the U.S. Digital Dollar proposal; however, the language as proposed by Chairwoman Waters associated with the House Financial Services Committee still contains this language. Links to your original and updated stimulus bills utilizing the language that is latest have reached the conclusion of this story.

As the markets continue steadily to drop as well as the U.S. looks to Congress for agreement for a massive stimulus package to save lots of the economy from impacts of this coronavirus pandemic, the most recent offer by House Democrats features a very forward-looking form of stimulus: the creation of the ‘digital dollar’ as well as the establishment of ‘digital dollar wallets.’ This signals the U.S. is serious in establishing infrastructure for a central bank digital currency in what will send shock waves through the cryptocurrency and blockchain industry, particularly for those following central bank digital currencies around the world.