LONDON, Jan 28 (Reuters) – Donald Trump’s rapid move to ban a “digital dollar” has left the field wide open, observers say, for China and Europe to make their already-advanced central bank digital currency (CBDC) prototypes into global standard-setters.
While the United States has long seemed reluctant to turn the world’s number one reserve currency digital, the fact that it is now the only country to impose a presidential ban on such an asset is hard to ignore.
Advertisement · Scroll to continue
Until last week the U.S. was one of the more than 130 countries, representing 98% of the global economy, exploring a CBDC to try to take advantage of – or at least keep up with – the rapid pace of technological change.