Members of a House Financial Services Committee task force largely expressed support for experiments to create a digital form of the U.S. dollar, citing the need to keep pace with China and to enable a larger swath of the U.S. population to access the digital economy, during a hearing Tuesday morning.

Neha Narula, the director of MIT’s Digital Currency Project, explained to the committee the benefits of a digital dollar, describing the U.S. electronic payment system as suffering from “high fees and limited access” because it has not evolved fast enough to keep pace with the demand for online digital payments.

Narula, whose group is collaborating with the Federal Reserve Bank of Boston to study a potential Fed-backed digital dollar, added that while private cryptocurrencies may evolve to solve these problems, they also present risks including “the immaturity of the technology and its…

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