FreedomWorks Opposes Federal Reserve Creating US Digital Currency
The Federal Reserve shouldn’t pursue a central bank digital currency (CBDC) due to the privacy risks associated with moving away from a “robust cash economy,” FreedomWorks Foundation commented Friday (see 2203100001). “Implementation of a CBDC by the Federal Reserve would…
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fundamentally change the United States' financial sector,” said President Adam Brandon. “Creating a CBDC that does not enjoy the same anonymity benefits of cash will open the door for large-scale abuses and should not be implemented in any way.”