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US Lawmakers Want to Avoid Chinese-Like Surveillance With Digital Dollar

July 28, 2021
Source: coinspectator.com coinspectator.com
News Snapshot:
U.S. lawmakers today spoke about the benefits of a central bank digital currency (CBDC)—but conservatives also expressed concern over how it could turn the country into a Chinese-like surveillance state. Politicians quizzed experts on how a so-called digital dollar in the States would work during a two-hour meeting held by the Subcommittee on National Security, International Development and Monetary Policy, on Tuesday morning. A CBDC is a digital version of a fiat currency, such as the British pound or U.S. dollar, backed by a central bank and therefore controlled by the government. Countries around the world are in different stages...
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