A draft of the coronavirus stimulus bill written by House Democrats would create a 'digital dollar'

Quick Take

  • The U.S. Democratic party is working on massive stimulus bill in response to the coronavirus epidemic and its economic impact.
  • A version of the bill dated March 22 that has been circulating includes a passage that, if passed, would lead to the creation of a “digital dollar” to be used for providing stimulus payments.
  • However, it remains unclear whether the digital dollar provision will make it into the final version of the bill. 

A draft stimulus bill penned by House Democrats and circulating ahead of a formal published version includes a provision that would, if instituted, create a "digital dollar."

To be sure, House Democrats aren't trying to create a cryptocurrency or deploy distributed ledger technology to make it happen. But according to the draft tex