CBDCs aim to pursue purchases and control our money: US Congressman

CBDCs aim to pursue purchases and control our money: US Congressman
The former presidential candidate and political commentator Tulsi Gabbard takes a stand against the plans of the bidges government to develop a digital central bank currency (CBDC) in the United States.
The ex-congress member argued on Sunday that CBDCs are used as instruments of massive financial surveillance that "undermined our autonomy and freedom".
against a cashless society
"To protect our freedom, we all have to stand together to reject this attempt to build a digital cashless society," wrote Gabbard.
A CBDC is a new form of digital money that is issued directly by a central bank to private customers and not via commercial banks. Proponents argue that it could serve as a safer and more efficient means of payment and transfer, Provision A "safe central bank liability in the digital finance ecosystem", according to the deputy chairman of the US athletes, Lael Brainard.
A biz report in May 2022 recommended that 90 % of the central banks already check the possible emission of a CBDC, with over half of them already developing such a technology. This includes the United States after President Biden granted "the highest urgency" in March last year as part of his crypto Executive Order of Potential US CBDC research.
Republican of the House of Representatives and the Senate equally-including Tom Emmer , , and others-have consistently spoken out against CBDCs because of their potential use to eliminate cash and to loss the privacy of consumers. Babbard-a former member of the Democratic Party-repeated this view on Monday and explained in a Style = "font-Weight: 400"> Interview that CBDCs deals with "state-sanctioned surveillance and control".
"It is about that you can track every single thing we buy," she said, "whether it is a piece of chewing gum, a car or something in between."
US Federal Research chief Jerome Powell called in September that a CBDC is implemented, but still protect the privacy of transactions, but still protect the identity of its user would check.
fednow vs cbdcs
The former congress member added that the new Fednow service of the Federal Reserve-a 24/7-echtzeit-payment service for depot banks-was the first step towards a CBDC. However, Central Bank A Opinion on Friday made it clear that Fednow has neither to do with digital currency, nor aimed at replacing cash, and rather comparable to existing services such as Fedwire and Fedach.
European Central Bank President Christine Lagarde previously recognized that innovations-especially in the form of CBDCs-would be necessary to ensure that central banks are not become irrelevant. In contrast, she released conventional decentralized cryptocurrencies such as Bitcoin as a "highly speculative asset" that lacks every future. Gabbard allegedly invested .