About Digital Dollar
by FelixSchimitt - October 17, 2020 at 11:15 PM
Usa preparing for Digital Dollar.
Until January 1, 2021 every company, citizen and Banks will use digital dollar.
Probably it is will be a stable coin and it is made by Massachusetts Institute of Technology (MIT).
And Info ::

Hearings to examine the digitization of money and payments.  Date : Tuesday June 30, 2020 (10:00 AM EDT)

S.3571 - Banking for All Act      Committee Meetings: 06/30/20 10:00AM

Info :  S.3571
Banking for All Act

This bill requires Federal Reserve member banks to provide digital pass-through accounts (i.e., digital dollar wallets) to
residents and citizens, and to businesses domiciled in the United States. Among other things, these accounts must provide
specified banking services to eligible persons who elect to deposit funds into these accounts, including access to COVID-19
(i.e., coronavirus disease 2019) aid payments. These accounts may not charge fees or have balance requirements, and must
provide a specified interest rate. In areas with limited access to Federal Reserve member banks, these banks must partner
with postal retail facilities to provide services.

Federal Reserve banks must permit state nonmember banks and credit unions to open master accounts for the purpose of
offering digital pass-through accounts.

Postal retail facilities and certain small banks must be reimbursed by the appropriate Federal Reserve bank for operational
costs incurred by offering the accounts.

Quote from :: https://www.congress.gov/bill/116th-cong.../3571/text

(b) Mandate.—

(1) IN GENERAL.—All Federal reserve banks shall, not later than January 1, 2021, make digital wallets available to
all residents and citizens of the United States and to businesses domiciled in the United States.

https://www.congress.gov/bill/116th-cong...-bill/2563  Committee Meetings: 06/30/20 10:00AM

Also News ::  Quote From :: https://www.somagnews.com/fed-governor-a...proposals/

Mester also explained to whom the Fed received support during its research on the digital dollar. It was known that the
Fed collaborated with the Massachusetts Institute of Technology (MIT) on this issue. Mester said that this union between
the Boston Fed and MIT has been going on for years.

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