In the United States, asked for criminal punishment for the launch of CBDC
Date: 2023-07-25 Author: Karina Ziganova Categories: BLOCKCHAIN, CRYPTO PAYMENTS
Republican Rep. Warren Davidson opposed the development of a future digital dollar, saying that "a central bank digital currency (CBDC) turns money into a tool of coercion and control."
This is how the congressman reacted to the announcement of the search for a CBDC developer at the Federal Reserve Bank of San Francisco, comparing the development of a digital dollar with the "financial equivalent of the Death Star."
"The Central Bank Digital Currency (CBDC) turns money into an instrument of coercion and control. Congress should immediately ban and then criminalize any effort to design, build, develop, test, or build a CBDC," Davidson wrote.
At the same time, one user replied that "the necessary policies need to be implemented to ensure privacy and other consumer protection needs." In his opinion, the evolution towards "smart" and programmable money should be welcomed.
However, the congressman disagreed, noting that "money should not be programmed by the central government."
"Money should be a stable store of value and an effective medium of exchange, not an instrument of surveillance, coercion and control," the politician stressed.
U.S. Politicians Against CBDCs
Earlier, US presidential candidate and Florida Governor Ron DeSantis promised to ban CBDCs if he wins the election. Moreover, his state has already imposed a ban on CBDCs and does not recognize any of them as currency. He clarified that the decision will also affect the assets of foreign Central Banks. The politician noted that the use of such assets will lead to "the transfer of powers from consumers to the central government."
Another US presidential candidate, Robert F. Kennedy Jr., believes that CBDC is the path to financial slavery. In his opinion, so the government will be able to monitor all the finances and transactions of any of the Americans.
What do Americans and US authorities want?
In early March, the US Treasury decided to create a new working group to launch a digital national currency. The group will include "leaders" from the Treasury Department, the Federal Reserve, the National Security Council and other agencies.
Later it became known that the US Treasury is studying how to make retail transactions with the digital dollar as confidential and anonymous as possible. At the same time, the department believes that there are several risks here. First of all, blockchain technologies will increase the danger of impulsive and rash withdrawals of money.
However, the majority (74%) of Americans surveyed do not support the issuance of a digital dollar, and only 16% of respondents support this idea. Basically, people of the older generation opposed CBDCs.
