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A myriad of unforeseeable “consequences” will be brought about by retail central bank digital currencies (CBDCs), the managing director of the International Monetary Fund (IMF) claimed.The IMF's Kristalina Georgieva erred on the side of caution regarding retail CBDCs in a May 1 interview at the Milken Institute’s 2023 Global Conference.Georgieva
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When it comes to providing stable value, stablecoins and central bank digital currencies (CBDCs) appear to serve two sides of the same proverbial coin. Crypto stable assets, however, can provide entirely different use cases — and CBDCs simply cannot compete. The key is programmability — smart contracts that automate and add
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Yeah, yeah – studies and briefings are just studies and briefings, but the conversation around CBDCs in Washington D.C. will be critically important. If the U.S. government does implement a CBDC one day, it should be done in a way that maintains personal privacy and doesn’t allow the government to
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The only people benefitting from central bank digital currencies are lobbyists, tech companies and, yes, central banks, say the Cato Institute’s Nicholas Anthony and Norbert Michel. Original Source
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During the weekend, discussions about central bank digital currencies, or CBDCs, trended on social media as many people believe the idea will result in increased financial surveillance and a totalitarian monetary system. In a recent interview, Lynette Zang, the chief market analyst at ITM Trading, warned that CBDCs will “take
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"Fast-moving digital technologies provide tremendous benefits in many years including cheaper and faster cross-border payments available to a larger public but the new technologies have onset of challenges," said Kanda, Japan's Vice Minister of Finance for International Affairs. "We have to address risks from the development of CBDCs by ensuring
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This week, government agencies made headlines for their involvement in the crypto scene, especially in the Terraforms Labs situation and central bank digital currency (CBDC) developments. Despite growing concerns and uncertainties surrounding Binance, the exchange remained dedicated to its growth strategy. Meanwhile, the non-fungible token (NFT) scene took center stage
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Presidential hopeful Robert F. Kennedy Jr. has issued a warning regarding the Federal Reserve’s new Fednow system and the potential risks of central bank digital currencies leading to financial slavery and political tyranny. He additionally warned: “We should not be blind to the obvious danger that this is the first
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Florida governor Ron DeSantis has voiced strong opposition to central bank digital currencies (CBDCs), asserting that they threaten to undermine the financial freedom of Americans. Florida Governor Ron DeSantis has recently taken a strong stance against CBDCs, arguing that they pose a significant threat to the financial freedom of Americans. DeSantis
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Arguing over the prudence and implications of issuing a central bank digital currency (CBDC) in the United States has seemingly become one of Washington’s favorite icebreakers. As Congress considers the question, it is critical that Americans clearly understand and soberly consider the immense power a CBDC could grant governments as
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