US Congressman’s Bold Move: Calling for CBDC Ban
US Congressman Warren Davidson has been actively expressing his views on cryptocurrency.
He previously introduced legislation aimed at removing SEC Chair Gary Gensler from his position in April. A tweet from Paul Grewal, the chief legal officer of Coinbase, triggered Davidson’s response.
Grewal’s tweet discussed SEC Chair Gensler’s plans to reassess the proposed redefinition of an exchange. The Representative also pointed out that former SEC chairs are eligible and highlighted that the legislation is meant to address perceived abuses.
The Federal Reserve is building the financial equivalent of the Death Star.
Central Bank Digital Currency (CBDC) corrupts money into a tool for coercion & control.
Congress must swiftly ban then criminalize any effort to design, build, develop, test or establish a #CBDC. pic.twitter.com/9JWiyj5H2f
— Warren Davidson 🇺🇸 (@WarrenDavidson) July 23, 2023
Recently, Davidson made another tweet urging the prohibition of central bank digital currencies (CBDC).
In a recent tweet, the United States Representative mentioned that the Federal Reserve is developing something similar to the “death star” in the financial world. He strongly emphasized that CBDCs can be misused for coercion and control over money.
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Furthermore, Davidson stated that Congress should take prompt action to ban CBDCs and criminalize any attempts to create or implement them.
He even shared a screenshot of a job posting by the Federal Reserve Bank of San Francisco, seeking a senior crypto architect for CBDC development.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
