Two former leaders of the U.S. Commodity Futures Trading Commission (CFTC), J. Christopher Giancarlo and Daniel Gorfine, argue for the potential benefits of a digital dollar ahead of a Senate committee hearing on the topic. They argue that digital currency could draw younger and underbanked users into depositing money into commercial banks and reduce friction for electronic payments for both consumers and businesses. They also suggest that as long as digital currency is coming anyway, it’s best to have it backed by a country with “stability, the backing of a robust and strong economy, good governance, openness, and rule of law.” [Read the full op-ed here at CNBC]
