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US Senator Pat Toomey supports digital dollar, nomination of Powell as Fed chair -Breaking

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Pennsylvania Senator Pat Toomey is one of the legislators who supported amendments of crypto-related language in the infrastructure law. Toomey said the United States should take the lead in adopting central bank digital currencies, the CBDC.

Toomey spoke with Bloomberg’s David Westin on Tuesday. the U.S. dollar should have “the most sophisticated capabilities of any currency in the world” as the country could benefit from a digital dollar. The senator says that the Federal Reserve should not be used as a traditional bank to roll out any U.S. digital currency. This is due to privacy concerns.