CoinDesk: “The e-cash would be a digital analogue to the greenback and could preserve privacy and anonymous transactions, according to an adviser on the bill. A group of U.S. lawmakers says the U.S. Treasury Department may be the right government entity to create a digital dollar – not the Federal Reserve. A new bill introduced Monday would authorize just that. Reps. Stephen Lynch (D-Mass.), Jesús Chuy Garcia (D-Ill.), Ayanna Pressley (D-Mass.) and Rashida Tlaib (D-Mich.) introduced the “Electronic Currency And Secure Hardware Act” (ECASH Act) to direct the Treasury Secretary to develop and issue an electronic version of the U.S. dollar, with an eye to preserving privacy and anonymity in transactions. The electronic dollar, as defined in the bill, would be a bearer instrument that people could hold on their phone or a card. The system would be token-based, not account-based, meaning if someone were to lose their phone or card, they would lose the funds. In other words, it would be like losing a wallet with dollar bills in it…”