A digital dollar issued by the Federal Reserve could be used alongside traditional paper money, but many of the details of how people would access digital dollars, are unclear. Here's what you need to know.
President Biden ordered federal agencies to study the implications of a government-backed digital currency
The Federal Reserve is trying to figure out how to keep cash relevant in a cashless world. It’s considering digitizing the U.S. dollar, giving people money they can access on their phone and bypassing electronic payments that can be slow and costly for businesses. Illustration: Jacob Reynolds/WSJ
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