Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain
  • Web 3
    • NFT
    • Metaverse
  • Regulation
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Bitcoin has to close more than $ 107,000 to confirm the outbreak or the risk of falling to $ 98,000

2025-05-18

Capital One pays $ 425,000,000 to customers after they have reportedly cheated customers from a higher return on bank balance

2025-05-18

Weekly winners and losers of Crypto Market – XCN, WIF, PI, op

2025-05-18
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
Facebook X (Twitter) Instagram
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain

    Ailayer forges Alliance with Gaea to create a decentralized AI-driven metaverse

    2025-05-18

    Space and time, Nvidia, publishes Sub-Second ZK Prover for SQL

    2025-05-18

    Interview with Nieuwe Lukso Coo

    2025-05-18

    B2 Network brings AI to Bitcoin with DSN-AI Rollup Protocol

    2025-05-18

    The Alice Collective elevates ‘My Neighbor Alice’ in collaboration with Persona Journey

    2025-05-17
  • Web 3
    • NFT
    • Metaverse
  • Regulation

    Capital One pays $ 425,000,000 to customers after they have reportedly cheated customers from a higher return on bank balance

    2025-05-18

    Myth or reality? Mica and its real impact on the market that dissolve common misconceptions

    2025-05-18

    Judge denies joint bid from Ripple and the SEC to end their long -term legal battle to end XRP

    2025-05-17

    A dozen new defendants who were sued in the alleged Rico -entry, connected to $ 263,000,000 crypto theft

    2025-05-17

    Complating digital assets win the long game in Crypto

    2025-05-17
  • Analysis

    The American stock market now looks more favorable than pre-trade war, according to Tom Lee from Fundstrat-Dit why is why

    2025-05-18

    Analyst who mentioned XRP price mark at $ 0.5 says that the increase in this level is coming

    2025-05-17

    Michael Burry van Big Short abruptly sells one ‘recession-proof’ assets

    2025-05-17

    $ 40 billion in XRP on the road – where are they going?

    2025-05-17

    Bitcoin who sees heavy accumulation on Coinbase and Binance, says analysis company Glassnode – here is the prospects

    2025-05-17
  • Learn

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15

    Inside Changelly: 10 years of steadfast support and compliance

    2025-05-15

    What Is Proof-of-Work (PoW)?

    2025-05-12

    What Is Proof-of-Authority (PoA)?

    2025-05-09
  • Blog
  • Contact
    • Tech7685@gmail.com
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Regulation»Former SEC official says CBDCs will open Pandora’s box of privacy concerns and supports Ted Cruz’s proposed ban
Former SEC official says CBDCs will open Pandora's box of privacy concerns and supports Ted Cruz's proposed ban
Regulation

Former SEC official says CBDCs will open Pandora’s box of privacy concerns and supports Ted Cruz’s proposed ban

2023-07-06No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

A former U.S. Securities and Exchange Commission (SEC) official says introducing a central bank digital currency (CBDC) may be the most absurd financial idea in the history of monetary policy.

Ex-chief of the SEC Office of Internet Enforcement John Reed Stark say the CBDC does not solve any problem at all as trusted digital currencies already exist that are regulated by the government agencies and US registered financial institutions.

He says what the digital dollar would actually do would raise policy issues.

“The risks of a CBDC remain numerous and raise a variety of important policy questions, including how a CIBC can affect the market structure of the financial sector, the cost and availability of credit, the safety and stability of the financial system and the effectiveness of monetary policy. can influence. .”

According to Stark, the creation of a CBDC will also create a host of privacy and security issues, similar to opening a Pandora’s box.

“Not only does a CBDC create a host of unnecessary risks related to global financial system stability, but a CBDC also opens a Pandora’s box of global financial privacy concerns, conflict and cybersecurity concerns.”

Stark says having a CBDC isn’t worth the associated costs and challenges. He then voices support for proposed legislation that seeks to prohibit the Federal Reserve from creating a direct-to-consumer CBDC. Senator Ted Cruz, who introduced the law, says the digital dollar could be used as a government financial oversight tool.

says Stark,

“It is like building a bridge to nowhere in the middle of a desert under the favorable conditions of technical modernization – and then proclaiming the project a triumphant social panacea. Whatever his rationale, Senator Ted Cruz gets it right with his CBDC ban legislation — it’s a bad idea that death should be stopped in its tracks.

Don’t Miss Out – Subscribe to receive email alerts delivered straight to your inbox

Check price action

follow us on TwitterFacebook and Telegram

Surf the Daily Hodl mix

Image generated: Midway through the journey



Source link

See also  Canada's financial regulator fines Binance Holdings $4,300,000 for alleged anti-money laundering failures: report
Ban Box CBDCs Concerns Cruzs official open Pandoras privacy Proposed SEC Supports Ted
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Capital One pays $ 425,000,000 to customers after they have reportedly cheated customers from a higher return on bank balance

2025-05-18

Myth or reality? Mica and its real impact on the market that dissolve common misconceptions

2025-05-18

Judge denies joint bid from Ripple and the SEC to end their long -term legal battle to end XRP

2025-05-17

A dozen new defendants who were sued in the alleged Rico -entry, connected to $ 263,000,000 crypto theft

2025-05-17
Add A Comment
Leave A Reply Cancel Reply

Top Posts

Will Trump’s Inauguration Push Bitcoin Above $100,000? Traders, take note…

2025-01-06

Do you want a facelift (in the Metaverse)? The same! We can all get one here…

2024-02-10

Bitcoin and Ethereum are finally passing the baton, but to whom?

2023-11-13
Editors Picks

Major US bank pays $13,500,000 settlement after facing federal investigation into illegal and discriminatory practices

2024-02-11

SubWallet introduces new bridges and exchange features to the Polkadot ecosystem

2024-07-04

Are whales making an exit?

2023-08-31

Theta EdgeCloud’s progress towards the latest AI Compute Infrastructure

2024-03-19

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Bitcoin has to close more than $ 107,000 to confirm the outbreak or the risk of falling to $ 98,000

Capital One pays $ 425,000,000 to customers after they have reportedly cheated customers from a higher return on bank balance

Weekly winners and losers of Crypto Market – XCN, WIF, PI, op

Get Informed

Subscribe to Updates

Get the latest news and Update from Bitcoin Platform about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
© 2025 Bitcoinplatform.com - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$104,103.670.68%
  • ethereumEthereum(ETH)$2,396.88-3.73%
  • tetherTether USDt(USDT)$1.000.01%
  • rippleXRP(XRP)$2.370.52%
  • binancecoinBNB(BNB)$640.29-0.24%
  • solanaSolana(SOL)$167.09-0.34%
  • usd-coinUSDC(USDC)$1.00-0.02%
  • dogecoinDogecoin(DOGE)$0.2231532.67%
  • cardanoCardano(ADA)$0.74-2.16%
  • tronTRON(TRX)$0.265562-2.26%
  • suiSui(SUI)$3.80-1.03%
  • chainlinkChainlink(LINK)$15.27-1.13%
  • avalanche-2Avalanche(AVAX)$22.11-1.85%
  • stellarStellar(XLM)$0.286374-0.47%
  • hyperliquidHyperliquid(HYPE)$26.261.07%
  • shiba-inuShiba Inu(SHIB)$0.0000141.21%
  • hedera-hashgraphHedera(HBAR)$0.191136-0.11%
  • unus-sed-leoUNUS SED LEO(LEO)$8.67-3.08%
  • bitcoin-cashBitcoin Cash(BCH)$396.360.57%
  • the-open-networkToncoin(TON)$3.090.28%
  • litecoinLitecoin(LTC)$97.510.11%
  • polkadotPolkadot(DOT)$4.62-0.99%
  • moneroMonero(XMR)$340.891.27%
  • bitget-tokenBitget Token(BGB)$5.072.23%
  • pepePepe(PEPE)$0.0000135.64%
  • daiDai(DAI)$1.00-0.01%
  • piPi(PI)$0.735.98%
  • ethena-usdeEthena USDe(USDE)$1.000.00%
  • uniswapUniswap(UNI)$5.840.74%
  • bittensorBittensor(TAO)$410.13-3.33%
  • aaveAave(AAVE)$221.20-1.66%
  • nearNEAR Protocol(NEAR)$2.70-0.81%
  • aptosAptos(APT)$5.03-2.05%
  • okbOKB(OKB)$52.68-1.19%
  • ondo-financeOndo(ONDO)$0.92-0.33%
  • kaspaKaspa(KAS)$0.108728-1.29%
  • internet-computerInternet Computer(ICP)$5.12-0.74%
  • ethereum-classicEthereum Classic(ETC)$17.95-1.74%
  • gatechain-tokenGateToken(GT)$21.53-0.14%
  • crypto-com-chainCronos(CRO)$0.096939-0.74%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.85-0.15%
  • mantleMantle(MNT)$0.730.53%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2334870.05%
  • vechainVeChain(VET)$0.027769-0.60%
  • render-tokenRender(RENDER)$4.49-1.57%
  • ethenaEthena(ENA)$0.3705424.04%
  • usd1World Liberty Financial USD(USD1)$1.000.00%
  • algorandAlgorand(ALGO)$0.2179870.27%
  • filecoinFilecoin(FIL)$2.810.04%
  • cosmosCosmos(ATOM)$4.74-0.32%
  • bitcoinBitcoin(BTC)$104,103.670.68%
  • ethereumEthereum(ETH)$2,396.88-3.73%
  • tetherTether USDt(USDT)$1.000.01%
  • rippleXRP(XRP)$2.370.52%
  • binancecoinBNB(BNB)$640.29-0.24%
  • solanaSolana(SOL)$167.09-0.34%
  • usd-coinUSDC(USDC)$1.00-0.02%
  • dogecoinDogecoin(DOGE)$0.2231532.67%
  • cardanoCardano(ADA)$0.74-2.16%
  • tronTRON(TRX)$0.265562-2.26%
  • suiSui(SUI)$3.80-1.03%
  • chainlinkChainlink(LINK)$15.27-1.13%
  • avalanche-2Avalanche(AVAX)$22.11-1.85%
  • stellarStellar(XLM)$0.286374-0.47%
  • hyperliquidHyperliquid(HYPE)$26.261.07%
  • shiba-inuShiba Inu(SHIB)$0.0000141.21%
  • hedera-hashgraphHedera(HBAR)$0.191136-0.11%
  • unus-sed-leoUNUS SED LEO(LEO)$8.67-3.08%
  • bitcoin-cashBitcoin Cash(BCH)$396.360.57%
  • the-open-networkToncoin(TON)$3.090.28%
  • litecoinLitecoin(LTC)$97.510.11%
  • polkadotPolkadot(DOT)$4.62-0.99%
  • moneroMonero(XMR)$340.891.27%
  • bitget-tokenBitget Token(BGB)$5.072.23%
  • pepePepe(PEPE)$0.0000135.64%
  • daiDai(DAI)$1.00-0.01%
  • piPi(PI)$0.735.98%
  • ethena-usdeEthena USDe(USDE)$1.000.00%
  • uniswapUniswap(UNI)$5.840.74%
  • bittensorBittensor(TAO)$410.13-3.33%
  • aaveAave(AAVE)$221.20-1.66%
  • nearNEAR Protocol(NEAR)$2.70-0.81%
  • aptosAptos(APT)$5.03-2.05%
  • okbOKB(OKB)$52.68-1.19%
  • ondo-financeOndo(ONDO)$0.92-0.33%
  • kaspaKaspa(KAS)$0.108728-1.29%
  • internet-computerInternet Computer(ICP)$5.12-0.74%
  • ethereum-classicEthereum Classic(ETC)$17.95-1.74%
  • gatechain-tokenGateToken(GT)$21.53-0.14%
  • crypto-com-chainCronos(CRO)$0.096939-0.74%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.85-0.15%
  • mantleMantle(MNT)$0.730.53%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2334870.05%
  • vechainVeChain(VET)$0.027769-0.60%
  • render-tokenRender(RENDER)$4.49-1.57%
  • ethenaEthena(ENA)$0.3705424.04%
  • usd1World Liberty Financial USD(USD1)$1.000.00%
  • algorandAlgorand(ALGO)$0.2179870.27%
  • filecoinFilecoin(FIL)$2.810.04%
  • cosmosCosmos(ATOM)$4.74-0.32%