Any U.S. central bank digital currency 'must be open, permissionless, and private,' said the lawmaker. digitaldollar crypto cryptocurrency
Nine U.S. lawmakers have raised concerns regarding the U.S. central bank digital currency project led by the Federal Reserve Bank of Boston. The lawmakers stressed: “Any U.S. CBDC must be open, permissionless, and private.”U.S. Congressman Tom Emmer announced Thursday that he has led an inquiry into the central bank digital currency effort led by the Federal Reserve Bank of Boston.
“It has come to Congress’s attention that some firms participating in Project Hamilton intend to use government resources from the project to design a CBDC with the intent to then sell those products to commercial banks,” Emmer described, emphasizing:“If the CBDC is not crafted with the values of transparency in mind, the currency falls at risk to the financial privacy violations currently on display in China,” he stressed.
The unfair advantage that some private companies could enjoy from this partnership and the failure to ensure the principles of privacy, sovereignty, and free markets should be concerning to every American.
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