1. Central Bank Digital Currency: The Risks and the Myths
- Author:
- Nicholas Anthony and Norbert Michel
- Publication Date:
- 01-2023
- Content Type:
- Policy Brief
- Institution:
- The Cato Institute
- Abstract:
- Central bank digital currencies (CBDCs) have the potential to radically transform the American financial system—ultimately usurping the private sector and endangering Americans’ core freedoms. Although CBDCs have gained the attention of politicians, central bankers, and the tech industry, this experiment should be left on the drawing board. This paper provides a summary of why Congress should explicitly prohibit the Federal Reserve and the Department of the Treasury from issuing a CBDC.
- Topic:
- Finance, Economy, Fiscal Policy, Banking, and Digital Currency
- Political Geography:
- North America and United States of America