Binance boss Changpeng 'CZ' Zhao is confident that CBDCs are not a threat to the crypto sector.
said
that they would never offer the same freedom as cryptocurrencies such as Bitcoin and Ethereum. “Most central bank digital currencies are going to have a lot of control attached to them,” he stated at the time. Central banks around the world are racing to research, pilot, and deploy their CBDCs, with China seen by some as leading the race.
There are however continued concerns that a programmable digital currency gives central banks unprecedented control over what groups of citizens can use it and what they can spend it on.that citizens who want less government involvement in their financial lives might see problems with CBDCs.his concerns over the level of control governments would have over people’s finances, labeling it as “global communism.
A digital-ID-linked CBDC could be used to crack down on dissidents or control carbon-friendly spending, he speculated.
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