IMF Says CBDCs Have Potential, but Don’t Solve Every Issue
Countries might benefit from issuing central bank digital currencies, but they’re not a panacea for every ailment, a new IMF report says.
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The Bitcoin Policy Institute’s report on CBDCs makes a strong case for why the US should reject a centrally issued version of the dollar. Bitcoinist covered that already. This time, we’ll focus on the reasons why The Bitcoin Policy Institute thinks CBDCs don’t make sense and are not practical for capitalist societies. The main argument […]
The paper's authors say Central Bank Digital Currencies are problematic for the future of individual and economic freedom but crypto is a viable alternative. U.S. think tank Bitcoin Policy Institute is calling for the United States to reject Central Bank Digital Currencies (CBDCs) and look to Bitcoin (BTC) and stablecoins as alternatives. In a whitepaper shared on Sept. 27, authors including Texas Bitcoin Foundation executive director Natalie Smolenski PhD, and former Kraken growth lead Dan Held argue CBDCs would strip the public of financial control, privacy and freedom. #CBDCs don’t....
Canada's central bank recognizes that CBDCs are a necessarily international issue. Canada doesn’t want any "surprises" regarding central bank digital currencies. In a recent interview with Reuters, Bank of Canada Governor Tiff Macklem doubled down on the country's contingency-plan approach to CBDCs, stressing that he sees no urgent need to issue one right now. For Macklem, inter-state competition and coordination remains the key question when it comes to CBDC issuance. He told reporters:“If another country has one and we don’t, that could certainly create some problems. So we want to make....
He estimated it will take “years rather than months” before the Fed releases a CBDC.
It’s time to talk monetary oppression at The Oslo Freedom Forum. Bitcoin heavyweights Jeff Booth and Jimmy Song make an appearance and, surprisingly, don’t even mention the asset. Bitcoin is ever present in spirit, though. Because it fixes all of the situations they’re mentioning. The other big topic of today’s selection is CBDCs. Are they […]