Oklahoma Senator Introduces The No Digital Dollar Act.
Oklahoma Senator James Lankford has recently proposed legislation to ensure that Americans can continue using physical bills and coins regardless of whether the United States adopts a digital dollar.
Lankford stated that he introduced the No Digital Dollar Act in response to residents&39 concerns that cash would be phased out once the US created a CBDC (Central Bank Digital Currency).
Lankfords bill follows the signing of Executive Order 14067 by President Joe Biden, which instructs the government to investigate the potential dangers and advantages of digital assets.
Lankfords proposed legislation, if passed, would prohibit the US Treasury as well as the Federal Reserve from meddling with Americans who tend to favor paper currency irrespective of whether a digital currency already exists. Lastly, the legislation also seeks to ensure that people can retain their privacy while transacting with cash and coins.
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