On March 1, 2023, Nellie Liang, undersecretary for domestic finance at the U.S. Treasury, delivered a speech to the Atlantic Council in Washington concerning the subject of central bank digital currencies (CBDCs). Liang detailed during her speech that a CBDC is one of several options for “upgrading the legacy capabilities of central bank money,” and members of the Treasury, Biden administration and the Federal Reserve “will begin to meet regularly” to discuss the topic.

The undersecretary for domestic finance at the U.S. Treasury, Nellie Liang, gave a speech at the Atlantic Council titled “Next Steps in the Future of Money and Payments.” During the speech, Liang discussed U.S. President Joe Biden’s executive order, which called on the government to develop an approach for the digital currency sector. Liang also referenced the collapse of some crypto businesses last year, “runs on stablecoins,” and the “commingling of customer and firm assets.”