On the recordMay 23, 2024
According to an analysis written by Jaret Seiberg with TD Cowen, published today, May 23, 2024: We do see risk in the House looking today to pass a related bill that would ban the United States from launching a digital dollar. We view such a ban as negative for the global dominance of U.S. banks and for the global role of the U.S. dollar. This is because the ban would apply to wholesale, as well as consumer use. That could give the euro or other currencies that are digitized an edge in being used for global trade as stablecoin digital dollars could lose value if there is a redemption run, while a digital euro would not face that threat. Mr. Chair, I reserve the balance of my time. Mr. McHENRY. Mr. Chair, I am prepared to close, and I reserve the balance of my time.
