US Congress: Yes to crypto, no to central bank crypto

Published in Coingeek.

Alex Pollock, a senior fellow at the R Street Institute, took to the microphone to discuss central bank-digital currency (CBDC). He said, “[To] have a central bank digital currency is one of the worst financial ideas of recent times, but still it’s quite conceivable…” He further asserted that a central bank’s digital currency would increase the power of the bank that could lead to the Federal Reserve becoming the “overwhelming credit allocator of the U.S. economic and financial system” if the Reserve were to adopt a CBDC.