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Trump bans CBDC

Richard T

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I think this is a bad move. If private crypto continues to expand, they can become so large as to bring pain on the whole financial system. Fintech already has used up government money even though its deposits are not always backed with FDIC insurance. See “FDIC deposit insurance does not protect against the insolvency or bankruptcy of a nonbank company." Is Your Money Really Safe In An ‘FDIC-Insured’ Fintech Account?
Tether a crypto currency that tracks the US dollar is just one company that could cause lots of financial harm if there was panic selling or any disruption to its ability to pay dollar for dollar for any redemptions. I doubt it turns out good. Crypto’s ‘too big to fail’ token Tether faces new threat from US
 
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FireDragon76

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I think CBDC will eventually come but not this term. Privacy is the main issue with CBDC but it's more efficient than fiat.

Crypto currency is a fiction that rests on a misunderstanding of what money actually is.
 
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