CBDC

How to ensure financial privacy remains a major obstacle for CBDCs

The Republican frontrunner also pledges to restrict regulators from trying to de-bank citizens over politics.

The committee’s report said the extend of a CBDC’s potential benefit is unclear while there are risks of financial instability and privacy and data breach.

Eighty percent of respondents also said regulations should be put in place to require merchants to accept cash as a form of payment.

The International Monetary Fund released a virtual handbook for central banks to create central bank digital currencies.

Author Aaron Day has warned against the widespread adoption of central bank digital currencies, arguing that their implementation will lead to ‘global tyranny.’

G20 Announces Plan For Governments To Impose Digital Currencies And Digital IDs

China’s CBDC is the only one in the world that’s really been widely used, because Chinese government has so much power over citizens.

Last year, the IMF director and the heads of several central banks met in Davos. They discussed the proposed future of currencies: CBDCs. Centralized Bank Digital Currencies. These are like cryptocurrencies without the privacy. They’re digital currencies where every transaction can be tracked and regulated by a central power. China already has one in place, and there’s a push for the world to follow, including at the Federal reserve. Here to speak with us is Thomas Hogan, Senior Fellow at the American Institute for Economic Research, and the former Chief Economist for the U.S. Senate Committee on Banking, Housing, & Urban Affairs.