Republican Warren Davidson called on Congress to ban the nation's digital currency

Republican Warren Davidson called on Congress to criminalize the development of CBDCs

Warren Davidson, a Republican from Ohio in the U.S. House of Representatives, called on Congress to ban and then criminalize efforts to design, create, finalize, test, and launch a digital national currency (CBDC). So the politician commented on the publication of the FRB San Francisco about the vacancy of "senior crypto architect", who is planned to be entrusted with the development of the project of the digital dollar.

The Fed wants to build the financial equivalent of the Death Star, he noted, comparing the position of the "architect" of the digital dollar to a character in the "Star Wars" movie saga.

The politician emphasized that money should be a stable means of saving, rather than a "tool of surveillance, coercion, and control."

The BIS survey showed that 15 digital national currencies will emerge by 2030. It was noted that nine central banks are ready to issue CBDCs for wholesale use in financial markets.

In June, the International Monetary Fund (IMF) began developing infrastructure for international settlements in digital currencies of central banks (CBDC).