New bill aims to stop digital dollar

September 18, 2023

Dear Reader,

US lawmakers want to stop the digital dollar.

The idea of a central bank digital currency (CBDC) has floated around for some time.

Those opposed to the idea make some solid arguments.

For one, a CBDC is not a decentralized digital currency like some think.

This is a digital fiat currency issued by the government.

What's more, it is a programmable form of money.

Which means the government controls it.

Some fear it could be used as a type of spyware currency.

Where government entities spy on private financial transactions.

Others believe the threats are even more menacing.

Those in power could freeze bank accounts, prevent certain purchases, and even punish political opposition through a CBDC.

Florida Governor, Ron Desantis, basically said he would prohibit the use of any CBDC in his state.

Now, the House Financial Services Committee is proposing two bills to block the potential release of a digital dollar in the United States.

Regardless of what happens, a government-imposed, centralized token will not be available for trading on the Cointelegraph Markets Pro dashboard.

Only alerts that affect legitimate decentralized tokens will continue to be issued.

Regards,

Max K.
Markets Pro Team