On Donald Trump’s return to the White House, he issued an executive order banning a US “digital dollar”. A compelling new book, framed as a wake-up call to Western policy-makers, reveals the global significance of this move.
It warns the West’s slow embrace of digital currency frameworks could erode its long-term financial influence – and diminish its ability to shape global monetary rules.
Smart Money positions central bank digital currencies (or, CBDCs) as the latest battleground in a new Cold War. CBDCs are digital money issued by a central bank, backed (just like cash) by the government of the nation issuing it. While the US dollar, the United Kingdom’s pound and the euro currently have no digital equivalent, China has made rapid advancements in its digital yuan (e-CNY).
