---
title: "Does digital currency replace cash?"  
description: "Does digital currency replace cash?"  
author: "Sandra Emily"  
published: 2022-05-23  
canonical: https://answers.mindstick.com/qa/97563/does-digital-currency-replace-cash  
category: "troubleshooting"  
tags: ["troubleshooting", "digital currency"]  
reading_time: 1 minute  

---

# Does digital currency replace cash?

Does [digital currency](https://www.mindstick.com/news/1151/binance-turkey-unit-slapped-with-try-8-million-for-violations-of-digital-currency-laws) [replace](https://www.mindstick.com/forum/2310/how-to-replace-character-in-jquery) cash?

## Answers

### Answer by Hitesh Vohra

- A US CBDC **would not be able to replace cash or paper money. '**The Federal Reserve is dedicated to ensuring the continued safety and availability of cash, and the CBDC is being considered as a way to extend safe payment choices, not to eliminate or replace them,' says the Fed.
- The Federal Reserve says it hasn't decided whether to pursue a digital [currency](https://www.mindstick.com/news/2105/rbi-has-released-a-concept-note-on-central-bank-digital-currency-and-digital-rupee), but says it could 'provide households and businesses with a convenient, electronic form of central bank money, with the safety and liquidity that entails; give entrepreneurs a platform on which to create new financial products and services; support faster and cheaper payments (including cross-border payments); and expand consumer access to the financial system.'

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## Read More: [Is bank money digital?](https://answers.mindstick.com/qa/97566/is-bank-money-digital)


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Original Source: https://answers.mindstick.com/qa/97563/does-digital-currency-replace-cash

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