Republican House Majority Whip Tom Emmer raised concerns today over whether a digital dollar could jeopardize American civil liberties.
Highlights
- Republican House Majority Whip Tom Emmer (R-MN) says a central bank digital currency would erode American privacy.
- Emmer’s comments came during a panel hosted by the Cato Institute, a libertarian think tank headquartered in Washington D.C.
- CBDCs are similar to stablecoins in the sense that they are digital tokens pegged to a sovereign currency like the U.S.
- dollar.
- The Federal Reserve has said it won’t issue a CBDC without written approval from Congress.
- Nearly 90 countries worldwide are either piloting, developing, or researching the technology, according to the Atlantic Council’s CBDC tracker.
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