President Joe Biden’s March 9th Executive Order gave “the highest urgency on research and development efforts into the potential design and deployment options of a United States CBDC,” or central bank digital currency.
Unlike cryptocurrencies, such as Bitcoin, CBDCs—as their name implies—are issued by central banks and have a value equivalent to the denomination of the national currency, so they would be issued in dollars, yuan, euros, etc.
Nearly all the leading developed and developing economies have plans to issue CBDCs, are exploring or actively exploring CBDC feasibility, or are engaged in research to issue them. Nigeria is the only country that has actually implemented a CBDC, with its e-Naira.  China is probably the next most advanced, having conducted a wide experimental issuance of its digital yuan, mostly referenced as the e-CNY.
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