As central banks, including the Federal Reserve, are looking into implementing their own digital currencies, a Republican lawmaker warned of a key risk associated with their adoption, namely whether they could be exploited to curb civil liberties.
Nations across the world are mulling developing central bank digital currencies (CBDC) to modernize their financial systems, ward off the threat from cryptocurrencies like Bitcoin, and speed up domestic and international payments, with China one of the most advanced in its effort.
