DeSantis is right — CBDCs will lead to absolute government control By Cointelegraph
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Arguing over the prudence and implications of issuing a central bank digital currency (CBDC) in the United States has seemingly become one of Washington’s favorite icebreakers. As Congress considers the question, it is critical that Americans clearly understand and soberly consider the immense power a CBDC could grant governments as well as the unacceptable risk of that power’s potential abuse.
In March, Florida Governor Ron DeSantis introduced a proposal to ban CBDC use in his state, arguing that total monetary control by the federal government is dangerous for American society. Shortly after, the White House released its economic report in which it argued in favor of a CBDC as a mechanism for advancing “human rights, democratic values, and privacy.” The fact that many countries and monetary systems have begun to develop and issue their own CBDCs colors the domestic debate as well.
Miller Whitehouse-Levine is the CEO of the DeFi Education Fund With oversight from the DEF’s grants committee, Miller has overall strategic and operational responsibility for the execution of the organization’s mission and goals. Prior to joining the fund, Miller led the Blockchain Association’s policy operation and worked at Goldstein Policy Solutions on a range of public policy issues, including crypto. Miller holds a B.S. in international politics and a minor in Mandarin Chinese from Georgetown’s School of Foreign Service.
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Arguing over the prudence and implications of issuing a central bank digital currency (CBDC) in the United States has seemingly become one of Washington’s favorite icebreakers. As Congress considers the question, it is critical that Americans clearly understand and soberly consider the immense power a CBDC could grant governments as well as the unacceptable risk of that power’s potential abuse.
In March, Florida Governor Ron DeSantis introduced a proposal to ban CBDC use in his state, arguing that total monetary control by the federal government is dangerous for American society. Shortly after, the White House released its economic report in which it argued in favor of a CBDC as a mechanism for advancing “human rights, democratic values, and privacy.” The fact that many countries and monetary systems have begun to develop and issue their own CBDCs colors the domestic debate as well.
Miller Whitehouse-Levine is the CEO of the DeFi Education Fund With oversight from the DEF’s grants committee, Miller has overall strategic and operational responsibility for the execution of the organization’s mission and goals. Prior to joining the fund, Miller led the Blockchain Association’s policy operation and worked at Goldstein Policy Solutions on a range of public policy issues, including crypto. Miller holds a B.S. in international politics and a minor in Mandarin Chinese from Georgetown’s School of Foreign Service.
Continue Reading on Coin Telegraph
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