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


Pennsylvania Senator Pat Toomey was one of those who supported the amendments to crypto language in the newly passed infrastructure law. He said that the United States should be the leader in adopting a central bank digital currency (or CBDC) for the rest of the world.

Toomey speaks with Bloomberg’s David Westin in a Tuesday interview 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. But, Senator Roberts stated that any U.S. central banking digital currency shouldn’t be based on the Federal Reserve, as it is not an established bank that retails accounts. He cited privacy issues.