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Acknowledging the rise of cryptocurrencies, Congress hopes to develop a clear stance on central bank digital currencies (CBDC) based on the ongoing study conducted by the Federal Reserve to “examine the potential benefits and risks of CBDCs and its impact on the U.S. domestic payments system.” On Tuesday, Circle’s Allaire released a statement ahead of the hearing, stating:“In a world where money becomes a core feature of the internet, the U.S. should aggressively promote the use of the dollar...