Biden Takes Big Step Toward Government
We attract some of the best and brightest faculty and student talent from all over the globe. On the question of legal authority to issue a CBDC, the White House has tasked the Attorney General to provide to the President a legal assessment of whether legislative authority already exists or whether new legal authority is needed. The AG is required to consult with Treasury and Fed on this assessment and, if needed, present a corresponding legislative proposal through the White House’s National Economic Council and National Security Advisor channels. The administrative process detailed in the text may seem technical, but setting the process for action is one of the most powerful tools used in the order. AG Garland now has the pen in both deciding whether new legislation is needed to launch a CBDC and if so, what that legislative proposal should look like. The Biden administration is putting its support behind the research and development of a “U.S. The Biden administration is throwing...