[theold]

Former president Joe Biden instructed the Fed to look into the creation of a CBDC, whose supporters note its potential use as a means of bringing people without bank accounts into the US financial system, and in tracing and tackling criminal activity.


But its opponents, which have long included many Republicans in Congress, have criticised CBDCs, arguing that they could threaten people’s privacy, and potentially undermine the banking system by reducing people’s incentives to bank privately.

https://www.malaymail.com/news/money/202...lar/164405