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It is now or by no means — The US has to arrange itself for digital foreign money By Cointelegraph

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It is now or by no means — The US has to arrange itself for digital foreign money

Welcome to the world of central financial institution digital foreign money, or CBDC, the place massive international locations like China and small international locations just like the Bahamas are attempting to mark their presence. It’s a world the place 86% of the world’s central banks are attempting to create digital currencies. Nearly 60% of them are engaged on the idea and 14% have already launched a pilot program.

Associated: Did CBDCs have an effect on the crypto house in 2020, and what’s subsequent in 2021? Specialists reply

Lyle Solomon is a principal lawyer for the Oak View Legislation Group in California, the place he focuses on shopper chapter. Along with his intensive litigation expertise, Solomon has written a number of articles on monetary well-being.