United States (US) Senator Elizabeth Warren believes it is time for the country to introduce a central bank digital currency (CBDC) or digital dollar.
He explained in Meet the Press Reports last week, most banks are mistaken if they think it just needs to be improved in the digital world because the improvement is not impossible.
“But, it is better to introduce CBDC. I think it's time for us to move into that era. "
Does this mean Warren isn’t worried about the negative stigma of a handful of people who think digital assets are a bubble?
According to the figure: “Many assure us that it will be something extraordinary, just as has happened in the real estate market.
Presumably, how many times have they stated ‘Real estate will always go up, it never goes down’? They have been saying it since the 2000s before it ended in 2008. "
Not enough of that, Warren told Bitcoin (BTC) will be regulated just like any other commodity but did not explain in detail the extent to which some form of regulation is likely to be implemented.
For the record, Warren is the individual responsible for issuing restraining orders against cryptocurrency companies from doing business with blacklisted firms.
It is understood US president Joe Biden has the right to add international crypto companies to the list if they are found to support the avoidance of sanctions.
If the government responds to Warren’s call, does this mean the world will see the digital dollar race against the digital yuan in seizing the dominance of world currencies?
