The United States may have conceded a head start to other nations in "setting global standards for the future of money" regarding central bank digital currencies (CBDCs), but in the future it "should lead the development of an international regulatory framework around digital currencies," the Digital Dollar Project (DDP) said on Wednesday.

In its updated white paper, the DDP, a nonprofit organization advocating for a U.S. central bank digital currency (CBDC), said the U.S. should do so "independent of a decision to deploy a U.S. CBDC."

More than 100 jurisdictions around the world are researching or developing a CBDC, while the U.S. remains cautious on the merits of a CBDC.

"In the coming CBDC future, the US should actively lead global discussions on governance, interoperability, security, privacy, and scalability standards, rather than reacting to foreign CBDC decisions," the DDP wrote.