Title: US Senate Floats 'Digital Dollar' Bill After House Scrubs Term From Coronavirus Relief Plan - CoinDesk
Headings: US Senate Floats ‘Digital Dollar’ Bill After House Scrubs Term From Coronavirus Relief Plan
US Senate Floats ‘Digital Dollar’ Bill After House Scrubs Term From Coronavirus Relief Plan
US Senate Floats ‘Digital Dollar’ Bill After House Scrubs Term From Coronavirus Relief Plan
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Content: “Each member bank shall establish and maintain a separate legal entity for the exclusive purpose of holding all assets and maintaining all liabilities associated with pass-through digital wallets,” the bill states. States might also designate some non-member banks to offer these wallets. The House draft bills mentioned a digital dollar as one potential method for distributing relief funds to U.S. residents during the ongoing coronavirus outbreak. Unemployment numbers have spiked as social distancing and “shelter-in-place” orders have cut sharply into retail revenues. However, the Senate version appears to exist independently of any such relief. Disclosure
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