In an astonishing twist of fate, President Donald Trump has signed into existence an executive order, orchestrating a grand migration to digital payments by September, with the lofty ambition of trimming $657 million in waste and curbing the nefarious specter of fraud.
On March 25, beneath the tapestries of the White House, the U.S. President unveiled this sweeping decree, foretelling an era where paper checks would dwindle into relics of a bygone age by the close of Fiscal Year 2025. His order valiantly tasks itself with unraveling the tangled web of inefficiencies lurking in the current disbursement system, citing the ballooning costs, fraudulent escapades, and delayed parcels of physical checks and money orders.
“Historically,” the proclamation solemnly intonates, “Department of the Treasury checks are 16 times more prone to mishaps—lost, stolen, or returned to the sender—than a gleaming electronic funds transfer (EFT).” Processing these archaic paper records drained the coffers to the tune of over $657 million in Fiscal Year 2024 alone. In the echoes of the executive order’s fact sheet:
By the ironclad decree of September 30, 2025, the federal government shall cease the issuance of paper checks for all kinds of disbursements—be it for intragovernmental payments, benefits, vendor payments, or even those cherished tax refunds.
The proclamation goes on, declaring, “All executive departments and agencies must pivot towards modern, electronic funds transfer methods, embracing direct deposits, deftly sliding debit/credit card payments, dashing digital wallets, and the swift artistry of real-time transfers.” Agencies must shepherd their recipients into the digital fold, casting aside the cumbersome lockbox services of yore.
This Executive Order does not lay the foundation for a central bank digital currency (CBDC).
In a previous proclamation in January, President Trump barred federal agencies from concocting or promoting central bank digital currencies. The order also took an axe to earlier initiatives aimed at exploring digital asset regulations and the elusive creation of a digital dollar. A working group now scurries to devise a federal regulatory framework for digital assets within the span of 180 days. Meanwhile, several bills aiming to banish CBDCs have peeked out from the shadows in Congress and state legislatures.
Read More
- Best Race Tier List In Elder Scrolls Oblivion
- Discover Liam Neeson’s Top 3 Action Films That Will Blow Your Mind!
- Kanye West Praises Wife Bianca’s Daring Naked Dress Amid Grammys Backlash
- Nintendo Switch 2 Price & Release Date Leaked: Is $449 Too Steep?
- Gold Rate Forecast
- Netflix’s New Harlan Coben Series Features Star-Studded Cast You Won’t Believe!
- OM PREDICTION. OM cryptocurrency
- Top 5 Hilarious Modern Comedies Streaming on Prime Video Now!
- Attack on Titan Stars Bryce Papenbrook & Trina Nishimura Reveal Secrets of the Saga’s End
- EUR PKR PREDICTION
2025-03-27 07:00