Misleading claims about US digital currency circulate online

Published on 23/09/2022 at 19:09

Social media posts claim an executive order from Joe Biden eliminates cash and enables the government to monitor transactions. This is misleading; while the US president did call for additional research on a central bank digital currency, the order does nothing to limit cash use -- and experts say any such system would be legally required to include privacy protections and involve the independent Federal Reserve, banks and Congress.