CBDC Debate Heats Up: BIS Project Sparks Controversy Among Critics; Lynette Zang Warns of Dangers of CBDCs – Featured Bitcoin News

CBDC Debate Heats Up: BIS Project Sparks Controversy Among Critics; Lynette Zang Warns of Dangers of CBDCs

During the weekend, discussions about central bank digital currencies, or CBDCs, trended on social media as many people believe the idea will result in increased financial surveillance and a totalitarian monetary system. In a recent interview, Lynette Zang, the chief market analyst at ITM Trading, warned that CBDCs will “take the world into a full surveillance economy that can be controlled directly by the central bank.

“[The] Biden [administration] aims to implement a central bank digital currency to bring about a cashless society, allowing them to track everything we purchase [and] control our money,” Gabbard . “[The] gov’s ‘Fednow’ system is needed [as the] first step to achieve their dream of [a] cashless society. This needs to be stopped at its inception, or it will be too late,” she added.

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Source: NBCNews - 🏆 10. / 86 Read more »