The Association of American Banks, which sent a corresponding letter to the US Department of Commerce, spoke about its negative attitude towards the digital dollar project.
The digital dollar, according to the bankers, will not solve the tasks that have been assigned to it. In addition, it is very difficult to assess the consequences of introducing a token on the internal market, as well as the costs of implementing a project.
In May, the country began accepting proposals and comments on the digital dollar from experts from trade structures. The Commerce Department stopped accepting opinions and comments only on July 5.
The digital dollar could change the American financial system too much, financiers say. New difficulties will arise, a new mechanism of interaction between citizens and the Federal Reserve System will begin to take shape.
However, many support Washington’s plans to create a digital dollar.
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Source: IXBT
