Political attacks on CBDCs give a pass to existing government and commercial oversight of financial transactions and forfeits opportunity to shape global standards in accord with American values, says Christopher Giancarlo, co-founder of the Digital Dollar Project.
Fears about mass financial surveillance are real with CBDCs, but banning them, as Republicans have recently proposed, will not help. Instead, more research is needed, says Ananya Kumar.
The putative presidential candidate’s legislation to ban a CBDC at the state level is constitutionally unworkable. But it’s still worrying for the future of money in the U.S., says JP Schnapper-Casteras.