No, Executive Order 14067 Won't Replace US Dollar With Trackable 'Biden Bucks'

The executive order calls for a multi-agency government approach to examining the risks and benefits of cryptocurrency.

Executive Order 14067, signed by President Joe Biden, replaces the U.S. dollar with traceable digital currency that will eliminate constitutional liberties like freedom and privacy.In the summer of 2022, some social media users shared posts alleging that U.S. President Joe Biden signed an executive order that would replace cash with cryptocurrency, and allow the government to track and control people’s finances and spending.a rattling headline from a website called Paradigm Press.

We found no language in Section 4 of the nine-section order that calls for replacing the U.S. dollar with digital currency, or takes any of the other drastic, unconstitutional steps listed by the Paradigm Press website.the benefits and risks to the U.S. financial system of issuing digital government currency , andhow such a system would be implemented. The U.S. Attorney General, for example, is required to report whether and what legislation would be needed to in the event the U.S.

According to the White House, the move is in response to the rapidly expanding use of cryptocurrencies, with an estimated 16 percent of Americans stating they have used cryptocurrency assets.

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