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Biden signs executive order on crypto instructing Federal Reserve Bank to look into creating its own official US cryptocurrency

“The Chairman of the Board of Governors of the Federal Reserve System (Chairman of the Federal Reserve) is encouraged to continue to research and report on the extent to which CBDCs could improve the efficiency and reduce the costs of existing and future payments systems, to continue to assess the optimal form of a United States CBDC, and to develop a strategic plan for Federal Reserve and broader United States Government action, as appropriate, that evaluates the necessary steps and requirements for the potential implementation and launch of a United States CBDC. The Chairman of the Federal Reserve is also encouraged to evaluate the extent to which a United States CBDC, based on the potential design options, could enhance or impede the ability of monetary policy to function effectively as a critical macroeconomic stabilization tool” says a section of the Executive Order on Ensuring Responsible Development of Digital Assets, sending the United States on a path that ends with “AmeriCoin” crypto mining farms and NFTs of the Constitution.

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