US Treasury Secretary “Digital Dollar” Negative View December 6th 5:45
US Treasury Secretary Mnushin said China is preparing to issue “digital renminbi” with a view to competing against the dollar of the core currency, while “the US needs to issue digital currency for the next five years. No, ”he expressed a negative view on the digitization of the dollar.
China is proceeding with a plan to issue “digital yuan” by the People's Bank of the Central Bank, and there is a view that if it spreads to the world in the future, it will become a currency against the core dollar of the dollar.
The US Treasury Secretary Mnushin said on May 5 in a hearing at the House of Representatives that he was responding to the Chinese initiative, “ I don't think it's necessary to issue digital currency for five years. The US already has a sophisticated payment system, "he said.
In the United States, private company Facebook has a concept of issuing a crypto asset called “Libra”, also called digital coin, and Zuckerberg CEO is appealing to allow early issuance to compete with China.
However, the US Treasury and FRB emphasize the necessity of making regulations rather than popularization from the viewpoint of currency stability, and continue to be cautious about digital currencies.