According to the US Fed Vice-Chair, the Launch Of the Digital Dollar Will Take 5 Years!

According to Federal Reserve Vice Chair Lael Brainard, establishing a central bank digital currency in the United States would likely take five years. The Fed is considering imposing limits on digital dollar holdings to encourage users to use them just for payments rather than as a safe asset for individuals or enterprises to invest in. According to Brainard, a digital dollar may coexist alongside stablecoins and the current financial system. Allowing other central banks to issue digital equivalents to cash, such as in Europe, might gradually erode the US dollar as the global reserve currency, leaving "potential risks to not having a CBDC" in the US, according to Brainard.