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Fed Asks Americans for Feedback on a Central Bank Digital Currency—Here Are Some Responses

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By Naveen Athrappully, Epoch Times

05-10-23

Americans are worried that a U.S. Central Bank Digital Currency (CBDC) could end up compromising essential freedoms, further centralizing monetary policy, and making the country’s currency vulnerable to hacking, according to a recently published Fed survey.

In January last year, the Fed published a white paper on what a CBDC could look like. It asked for public comments on issues like potential risks and benefits a CBDC can have on the country. On April 20, the Fed released the responses in nine documents. Here are some of the various answers and concerns expressed by respondents, some of whom were named, others who were unnamed, as well as those whose names were redacted.

A student from Texas pointed to the breach of privacy, government overreach, and hacking as risks posed by CBDC. “With this digital currency, the government would be able to usurp freedoms without the knowledge/consent of the public.

First appeared 04-23-23

Read full article here: Fed Asks Americans for Feedback on a Central Bank Digital Currency—Here Are Some Responses (theepochtimes.com)

 
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