Former Chairman of CFTC: It is expected that it will take 5 to 10 years to create a digital dollar

According to Coindesk, after the digital dollar white paper was released, the project leader and former U.S. Commodity Futures Trading Commission Chairman J. Christopher Giancarlo said that digital dollar faces many problems , Such as whether it will affect the dollar currency supply, whether it is necessary to comply with anti-money laundering / understand your customer regulations, and whether user privacy will be damaged by the US government and commercial use. He is frank that all problems need to be solved, otherwise the digital dollar will be difficult to participate in more activities. Even if all the theoretical planning is ok, the digital dollar still needs to be tested in actual scenarios, and then US legislators and policy makers need to formulate potential policies and regulations based on the actual implementation results. Therefore, from this perspective, J. Christopher Giancarlo expects that the process of establishing a digital dollar may take 5-10 years, but he believes that related work must be started now, because digital dollars are too important.

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