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Here’s why conservatives are opposing a digital US dollar CBDC
Central banks from around the world have been working to create digital versions of their currencies. In China, the People’s Republic of China (PBoC) started testing its digital yuan in 2021. Other central banks like the European Central Bank (ECB), Riksbank, and Bank of England (BoE) are researching on their digital currencies. In its recent report, the World Economic Forum made the case for CBDCs and noted some of its benefits. Retail CBDCs can reduce friction in local and global trade, lower transaction costs, and boost financial inclusion in some countries. However, many conservatives have turned against CBDCs, ... (full story)