A chorus of disapproval rang out from the halls of the United States Congress on Sept. 14 as a House of Representatives subcommittee held a hearing on the “digital dollar dilemma.” Five expert witnesses were scheduled to testify at the hearing, and all of them argued against creating a U.S. central bank digital currency (CBDC), otherwise known as a digital dollar.
Partisan divisions were on full display as the hearing opened, with subcommittee chair French Hill saying, “There is no support for a CBDC in Congress except from those on the fringes.” Rep. Tom Emmer called CBDCs “a tool the Communists have.”
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