Congressman Warren Davidson has expressed his opposition to the use of central bank digital currencies (CBDCs) in the United States. He believes that CBDCs are dangerous for the financial technology industry and compared them to the Death Star. Davidson emphasized that CBDCs should be banned in America to protect the future of fintech. He clarified that he does not have a problem with the technology behind CBDCs, but rather with the people and entities involved in their development. Davidson announced that he is working on a regulation to criminalize the design and development of CBDCs. This comes as the Federal Reserve considers the possibility of a digital dollar, but has not made a decision yet. Several bills have been introduced to prevent the issuance of a digital dollar, with the aim of preserving financial privacy and limiting the power of unelected bureaucrats.
In conclusion, Congressman Warren Davidson strongly opposes the use of CBDCs in America and is taking steps to criminalize their development. He believes that CBDCs pose a threat to the fintech industry and should be banned. The debate over CBDCs continues, with some lawmakers introducing bills to prevent their issuance and protect financial privacy. It remains to be seen what the future holds for CBDCs in the United States.
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