Digital Currencies: The U.S., China, and the World at a Crossroads

This multidisciplinary report explores the economic and sociopolitical motives for China’s central bank digital currency and its implications for privacy, international security, and the leading role of the United States in global finance. Among the key findings: The U.S. government should advocate for democratic norms of privacy, accountability, transparency, and security in shaping the global standards for digital currencies, and should improve innovation and competition in its own payment systems.