The United States should lead the development of central bank digital currencies (CBDCs) away from being “surveillance coins” and toward being “freedom coins,” says the former chair of the Commodity Futures Trading Commission.
In a March 13 op-ed in The Hill, Christopher Giancarlo said that the U.S. “must influence” CBDC development toward protecting “democratic values like freedom of speech and the right to privacy,” leveraging current technology used by some cryptocurrency protocols.
My op-ed in @theHIll with @Jim Harper: the question is not whether #CBDCs can be stopped (they can’t), but whether sovereign AND non-sovereign #digitalcurrency will enslave or liberate citizens of free societies. https://t.co/h1oT14NalK
— Chris Giancarlo (@giancarloMKTS) March 13, 2023
Nicknamed “Crypto Dad” for his pro-crypto outlook, Giancarlo is co-founder of the Digital Dollar Project, which focuses on researching the implications of a U.S. CBDC. He elaborated on his concerns about privacy in a March 1 report for policy think tank the American Enterprise Institute that…