Legislation calls for Treasury to develop electronic dollar


Legislation has been introduced in the House of Representatives seeking “to direct the Secretary of the Treasury to develop and pilot digital dollar technologies that replicate the privacy-respecting features of physical cash.”

H.R. 7231 — cited as the Electronic Currency and Secure Hardware Act or simply the ECASH Act — was introduced March 28 by Rep. Stephen F. Lynch, D-Mass. Text of the bill recently became available at Congress.gov.

The bill has been referred to the House Financial Services Committee for further consideration.

H.R. 7231 aims to pursue the development and deployment of electronic U.S. dollars “in such quantities, denominations, and technical forms as the Secretary, in the Secretary’s discretion, determines to be appropriate.”


Posted in