The Fed explores a digital dollar

There are many different types of virtual money these days, among them cryptocurrencies like Bitcoin, Ethereum and Dogecoin, which are largely unregulated. Now more and more governments around the world are getting on board with the concept of their own official, regulated digital-only currencies. These are called central bank digital currencies, and the Federal Reserve recently took the first step in exploring the possibility of an American CBDC. It issued a 40-page paper outlining the potential benefits of, and concerns surrounding, a government-backed digital dollar. Marketplace’s Kimberly Adams speaks with Yaya Fanusie, an adjunct senior fellow at the Center for a New American Security.