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US legislators continue to press for the creation of a digital dollar, raising questions about whether the move could make it easy for the federal government to track business and consumer transactions.

Putting all the digital dollars on one electronic ledger operated by the Federal Reserve would also be a tempting target for cyber criminals.

In March, lawmakers introduced a bill that would allow the US Treasury to create a digital dollar and pilot it to determine its viability. That same month, President Joe Biden called for more research on developing a national digital currency through the nation’s central bank. The order highlighted the need for more regulatory oversight of cryptocurrencies, which have been used for nefarious purposes such as money laundering and other criminal activities.

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