Skip to main content

War on CBDCs: US Lawmakers Move to Kill Digital Dollar Before It Starts

25 that he had introduced the "No CBDC Act" to protect Americans from the potential dangers of a government-controlled digital currency.

Why the No CBDC Act Matters
The No CBDC Act aims to prevent the Federal Reserve from issuing a central bank digital currency (CBDC). This type of digital currency would be controlled and monitored by the government, giving them access to personal financial data and potentially allowing them to track and control spending.

The Risk of Total Financial Surveillance
The introduction of a CBDC could lead to total financial surveillance, as it would be controlled by the government and linked to individuals' identities. This could open the door for invasive data collection and monitoring of every transaction made with the digital currency.

The Impact on Personal Savings
With a government-controlled digital currency, individuals could potentially have their savings erased or controlled by the government. This could happen through negative interest rates or government-mandated spending requirements, forcing individuals to spend their savings rather than save for the future.

The Potential for Forced Spending
Similar to China's digital yuan, a government-controlled digital currency could also allow officials to track and control spending. This means that the government could potentially force individuals to spend their digital currency on certain goods or services, limiting their financial freedom and autonomy.

Stay Informed and Take Action
As the use of digital currencies continues to grow and evolve, it is important to stay informed about potential risks and take action to protect personal financial privacy and freedom. Keep an eye on the proposed No CBDC Act and other legislation related to digital currencies, and make your voice heard to protect your financial rights and liberties. #NoCBDCAct #FinancialPrivacy #DigitalCurrency #CryptoTickers


Sentiment Result: Negative

Image
Labels:

Comments

Post a Comment

Popular posts from this blog

Bitcoin Price Recovers After Fed Announces No Rate Hike At FOMC

📈💰The Federal Reserve announced today that it will maintain its current interest rates, citing a strong job market and moderate economic growth. This decision comes as no surprise to those in the crypto community, as many have been anticipating this outcome for weeks. However, this news may have some investors feeling slightly disappointed, as they were hoping for a rate cut to boost the market.💸💻Crypto tickers such as BTC, ETH, and XRP have been trending upwards in recent weeks, with many investors hoping for a continued bull run. However, with the Fed's decision to keep interest rates steady, some may be wondering if this will have a negative impact on the market. While it's impossible to predict the exact effect on crypto prices, it's important to remember that the Fed's decision is based on a variety of factors and not solely on the crypto market.📉🌎The Fed's decision also has implications for the stock market, with many investors closely watching the anno...
Post a Comment
Continue Reading »

Crypto Talkies July 8th 2025

As the sun sets on another bustling day in the crypto world, let's dive into the day's highlights. XRP has been making waves, surging past its $2.32 resistance mark with renewed vigor. The buzz is fueled by speculation around ETF approvals, increased trading activity on platforms like Upbit, and significant market inflows. With trading volume and market cap on the rise, all eyes are on XRP (XRP) as it teeters close to a pivotal resistance level, hinting at the potential for some dramatic market shifts. Across the Atlantic, the European Union has ushered in a new era for crypto firms with the successful licensing of 53 companies under the Markets in Crypto-Assets Regulation (MiCA). However, notable names like Tether (USDT) and Binance were notably absent from the approved list, leaving room for speculation on their next moves within the European Economic Area. Meanwhile, Hong Kong is steadily advancing its stablecoin initiatives, preparing to implement a licensing regime that ...
Post a Comment
Continue Reading »

Crypto Talkies July 10th 2025

As the sun sets on another bustling day in the cryptosphere, the lights dim on a series of intriguing developments. Bitwise analysts set the stage by highlighting Ethereum (ETH), Solana (SOL), XRP (XRP), and Chainlink as frontrunners in the tokenization narrative, suggesting even modest tokenization could eclipse other crypto stories, including Bitcoin's epic tale. Meanwhile, SharpLink Gaming made waves with a strategic increase in Ethereum holdings, sending its stock soaring by 28% and setting tongues wagging throughout the corporate sector about the potential of similar crypto embraces. On the Trump-affiliated front, Donald Trump Jr.'s support for Thumzup Media Corp's expansion into Ether, XRP, and Solana reinforces a growing trend of political ties venturing into digital assets, despite some financial hiccups along the way. Bitcoin (BTC), though consolidating just below its all-time high of $112,000, remains a cornerstone of the market as it basks in increased accumulat...
Post a Comment
Continue Reading »