Central Bank Digital Currency (CDBC) - Garner Ted Armstrong Evangelistic Association https://www.garnertedarmstrong.org Let No Man Take Your Crown Thu, 29 Jun 2023 22:43:13 +0000 en-US hourly 1 https://www.garnertedarmstrong.org/wp-content/uploads/2024/05/cropped-Screen-Shot-2024-05-16-at-1.06.13-PM-32x32.png Central Bank Digital Currency (CDBC) - Garner Ted Armstrong Evangelistic Association https://www.garnertedarmstrong.org 32 32 130 countries considering centralized digital currencies — 49% in advanced development https://www.garnertedarmstrong.org/130-countries-considering-centralized-digital-currencies-49-in-advanced-development/?utm_source=rss&utm_medium=rss&utm_campaign=130-countries-considering-centralized-digital-currencies-49-in-advanced-development Thu, 29 Jun 2023 22:43:13 +0000 https://www.garnertedarmstrong.org/?p=44137 A new study released Wednesday by the think tank Atlantic Councilfound that 130 countries, representing 98% of the global GDP, are considering central bank digital currencies, with 49% currently in advanced development. A central bank digital currency is a digital … Read More

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]]> A new study released Wednesday by the think tank Atlantic Councilfound that 130 countries, representing 98% of the global GDP, are considering central bank digital currencies, with 49% currently in advanced development.

A central bank digital currency is a digital form of a country’s current fiat currency. Instead of printing cash, central banks would issue electronic money.

Critics of this system have expressed concern that it puts too much power in the hands of government officials, who would have the ability to stop transactions and turn off citizens’ access to their own wallets. Additionally, all transactions would be traceable.

The number of nations exploring digital currency has increased significantly since May 2020, when only 35 countries were considering the option.

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Source: https://www.theblaze.com/news/130-countries-considering-centralized-digital-currencies-49-in-advanced-development

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]]> Florida Gov. Ron DeSantis Proposes Law to Ban CBDCs https://www.garnertedarmstrong.org/florida-gov-ron-desantis-proposes-law-to-ban-cbdcs/?utm_source=rss&utm_medium=rss&utm_campaign=florida-gov-ron-desantis-proposes-law-to-ban-cbdcs Wed, 22 Mar 2023 15:28:33 +0000 https://www.garnertedarmstrong.org/?p=43647 The Biden administration is studying the possibility of introducing a central bank digital currency. A legislative proposal from Florida Gov. (and possible Republican U.S. presidential candidate) Ron DeSantis would prohibit the use of a national central bank digital currency (CBDC) … Read More

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]]> The Biden administration is studying the possibility of introducing a central bank digital currency.

A legislative proposal from Florida Gov. (and possible Republican U.S. presidential candidate) Ron DeSantis would prohibit the use of a national central bank digital currency (CBDC) as money within his state.

“Today’s announcement will protect Florida consumers and businesses from the reckless adoption of a ‘centralized digital dollar’ which will stifle innovation and promote government-sanctioned surveillance,” DeSantis said in a press release.

The proposed law would also prohibit in Florida the use of a CBDC issued by any overseas central bank. The governor’s statement calls on other states to adopt similar legislation.

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Source: https://www.coindesk.com/policy/2023/03/20/florida-governor-ron-desantis-proposes-law-to-ban-cbdcs/

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