According to a report by ProPublica, the US Department of Housing and Urban Development (HUD) is exploring the possibility of using digital currency and blockchain technology in some of its operations. Informed sources revealed that sessions have been held to discuss using blockchain for monitoring HUD’s financial aid. This initiative could serve as a pilot for the acceptance of digital currencies across the federal government. Discussions have also included the potential use of stablecoins. One proposal raised is to pay HUD aid recipients with digital currency, although an HUD spokesperson stated that there is currently no plan to use blockchain or stablecoins. These evaluations align with President Trump’s pledge to make America the ‘Global Capital of Digital Currencies.’ Trump recently signed an order to establish a strategic Bitcoin reserve and store America’s digital assets, hoping to pass the stablecoin law by August.
