Recent discussions and legislative efforts in the United States have highlighted growing concerns around Central Bank Digital Currencies (CBDCs). Critics argue that CBDCs could lead to increased government surveillance and control over individual finances, threatening personal freedoms and potentially resulting in government tyranny. A new bill introduced in the Senate aims to protect the U.S. dollar from becoming a tool of federal surveillance. This legislative move comes amid reports that the Biden administration may be recognizing the risks associated with CBDCs, potentially outweighing their benefits, and is urged to 'speak out sooner rather than later.' Public sentiment towards CBDCs is largely negative, with a 2022 Cato Institute study indicating that 67% of Americans oppose the concept, fearing it could lead to 'Big Brother's prying eyes.' The number of countries exploring CBDCs has surged from 35 in 2020 to 134 today, emphasizing the global interest in digital currencies despite the controversies they spark.
According to the @AtlanticCouncil, the number of countries exploring CENTRAL BANK DIGITAL CURRENCIES (CBDCs) has exploded from 35 in 2020 to 134 today. I'm on the same page as my good friend & Durham Prof. Kevin Dowd: CBDCs = BIG BROTHER'S PRYING EYES = BAD.
A 2022 @CatoInstitute study found that 67% of Americans held a negative sentiment towards the idea of CENTRAL BANK DIGITAL CURRENCIES (CBDCs). CBDCs = BIG BROTHER'S PRYING EYES = BAD. https://t.co/jZuzC5HITD
If it’s true that the Biden administration now recognizes that the risks of central bank digital currencies (CBDCs) outweigh any purported benefits, it should speak out sooner rather than later. https://t.co/kaawOfaGbg #CatoEcon https://t.co/mezYuax8px
PROTECT OUR PROSPERITY AND FREEDOM FROM THIS DIGITAL CURRENCY (The Daily Signal) If you’re a fan of the U.S. dollar, you can keep it from turning into a surveillance tool of the federal government—at least according to a new bill introduced in the Senate. A few days ago, Sen.… https://t.co/vGD385MJle
CBDC would give the federal government absolute control over your money. This is a dangerous threat to freedom. It is critical that we work to protect the American people from government tyranny & that we never allow the creation of CBDC in America. https://t.co/AEnQYOhlLZ