Powell: A CBDC Would Make Cryptocurrencies Obsolete | Crypto Craft

  • Powell: A CBDC Would Make Cryptocurrencies Obsolete

    From blockworks.co

    Federal Reserve Chairman Jerome Powell appeared before the House financial services committee Wednesday for day one of his two-dated mandated monetary policy update. He faced questions on rising inflation concerns, when tapering of bond purchases will start, and on regulations around cryptocurrencies and central bank digital currencies. On the same day that the European Central Bank elected to move forward with researching and developing a digital Euro, Powell also indicated an interest in exploring how a CBDC could benefit the American financial system. Representative Stephen Lynch (Democrat, MA) said that a more ... (full story)

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BTCmailman
Jul 14, 2021 3:49pm
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Hilarious. CBDCs are a huge part of the bull case for crypto. When they start telling you where you can or can't spend your money or putting expiration dates on it, where do you think people are going to turn? Cash is dead so won't be there. Ah yes, these decentralized assets outside of central bank and gov't control look mighty fine.
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Trader#A2A5
Jul 15, 2021 3:37am
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Well said and more and more people know the central banks and other banks are the problem.
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