H.R. 5410 — ECASH Act

This bill requires the Department of the Treasury to support the development of an electronic dollar. The electronic dollar must be payable to the bearer;considered legal tender;an obligation of the United States;placed into circulation by Treasury;able to be directly used by the public; andcapable of instantaneous, offline transactions using hardware devices not involving a third-party intermediary.The bill also provides for privacy requirements applicable to any hardware device used for electronic dollar transactions. Merchants who accept physical currency and the federal government must accept electronic dollars as a form of payment.   The bill also establishes the Electronic Currenc...