Treasury recommends exploration of digital dollar

The U.S. Department of the Treasury is recommending consideration of a digital currency known as the digital dollar.

One Treasury recommendation is that the country "advance policy and technical work on a potential central bank digital currency, or CBDC, so that the United States is prepared if CBDC is determined to be in the national interest," Secretary Janet Yellen said.

“Right now, some aspects of our current payment system are too slow or too expensive,” Yellen said.

Read more from The Associated Press.