Rep. Warren Davidson (R-Ohio) has made a plea to Congress advocating for a prohibition on Central Bank Digital Currencies and seeking criminal penalties for their creation.
What Happened: Davidson on Tuesday said, “CBDCs poses an existential threat to western civilization. Sound money serves as a stable store of value and an efficient means of exchange. CBDC consummates the corruption of money into a dystopian tool for coercion & control. Ban them.”
Several Democrats agree, but few are vocal in their opposition to CBDC. Unfortunately, Elizabeth Warren seems to dominate financial services policy for Democrats. She is working to ban crypto and implement CBDC. — Warren Davidson 🇺🇸 (@WarrenDavidson) December 26, 2023
CBDCs are digital forms of a nation's legal currency, which are issued and regulated by the country’s central bank.
The Republican congressman has ...