julien
@julien51.eth
Can someone explain why a US CBDC would be bad? (I get the Circle wouldn't like it, but for the rest of the industry?)
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boscolo.eth
@boscolo.eth
The biggest fear is being discriminated against or possibly arrested for the purchases you make or organizations you support. It is especially problematic in the US where states have different laws on what is and isn't illegal
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✳️ dcposch on daimo
@dcposch.eth
But this is just as possible with USDC or any other onchain purchase (and goes without saying but the govt can see your nonpublic offchain purchases too. only onchain has a path to true privacy)
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depatchedmode
@depatchedmode
Has anybody thoroughly pressed the EO’s definition of “CBDC”? It felt incomplete to me, but also economic speak is still foreign to me. Direct liability translates to “full authority and control over issuance and redemption” I think? ———- (c) “Central Bank Digital Currency” means a form of digital money or monetary value, denominated in the national unit of account, that is a direct liability of the central bank.
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julien
@julien51.eth
Is it worse than the existing USDC (as you noted) and/or the traditional USD infra?
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