Congressman Jim Himes says the US should develop a CBDC

In an interview on CoinDesk TV, Rep. Jim Himes (D-CT) said that the US should develop a central bank digital currency (CBDC) so as not to be “left behind.”

Countries like Australia, Japan, China, and Russia have pilot projects to test CBDCs.

Related: Central Bank Digital Currencies make authoritarianism, censorship, and surveillance easy

Himes said that the US should develop a CBDC so that “we’ve got the option to move forward” if and when the time comes.

“Why would you exit the game before you even know what the game is going to look like?” Himes said. “We could do the research. We could set up a pilot program for a CBDC.”

Himes noted that the US does not have to adopt a CBDC. His point is “since it is a technological innovation, why not keep up with our peers, with our competitors and see where it goes.”

Himes, a member of the House Financial Services Committee’s National Security, International Development, and Monetary Policy Subcommittee, noted that the US has not made any steps in developing a CBDC.

“If we were serious about it, we could move it pretty quickly,” said Himes. “We can do a lot of the setup before we actually push the button and say, ‘Hey, there’s now a CBDC.’”

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