Rep. Warren Davidson Says CBDCs An 'External Threat To Western Civilization'
Portfolio Pulse from Mehab Qureshi
Rep. Warren Davidson (R-Ohio) has expressed strong opposition to Central Bank Digital Currencies (CBDCs), labeling them as an existential threat to Western civilization. The House Financial Committee approved a bill to prohibit CBDCs, with Davidson emphasizing the need for a full House debate and subsequent adoption of the legislation. Additionally, an amendment has been proposed to prevent federal funds from being used to design, develop, or establish a CBDC. Former President Donald Trump also spoke against CBDCs, promising to never allow their creation.
February 21, 2024 | 7:44 am
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POSITIVE IMPACT
Ethereum (ETH) saw a price increase of 2.73% over the past 24 hours, trading at $3,006.63. The discussion and legislative actions against CBDCs could indirectly influence the perception and value of decentralized cryptocurrencies like Ethereum.
The opposition to CBDCs by significant political figures and the legislative actions to ban them could lead to a positive sentiment towards decentralized cryptocurrencies like Ethereum. As investors and the public may seek alternatives to traditional and digital fiat currencies, assets like Ethereum could see increased interest and value. However, the direct impact of these legislative actions on Ethereum's price is speculative and not immediate.
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