Ohio Congressman Warren Davidson has expressed strong opposition to Central Bank Digital Currencies (CBDCs), emphasizing the potential risks they pose to the digital asset ecosystem.
In a series of tweets, the House Representative highlighted the misconceptions surrounding CBDCs and other digital assets like Bitcoin (BTC).
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Davidson pointed out that many individuals mistakenly equate Bitcoin BTC/USD with CBDCs.
He went on to describe CBDCs as "evil," likening them to the "financial equivalent of the Death Star."
The Congressman urged the public not to support or collaborate with any entities involved in the design, development, testing, or establishment of CBDCs.
He stressed that prohibiting CBDCs is crucial for the future of financial technology in the United States.
Davidson also highlighted that the real issue isn't with tokenized assets but with certain entities and influencers.
He named the Federal Reserve, Ripple XRP/USD, and Consensys among those actively participating in CBDC projects.
In a bold move, Davidson revealed that he is in the process of drafting legislation that would criminalize the design, development, testing, and establishment of a Central Bank Digital Currency.
He believes that CBDCs could transform money into a tool for coercion and control, undermining the principles of Western civilization.
The Congressman emphasized the importance of sound money, which serves as a stable store of value and an efficient means of exchange.
He criticized current CBDC models for being centrally managed and reliant on digital IDs.
This centralized approach contrasts sharply with decentralized finance (DeFi), which prioritizes privacy and enables permissionless peer-to-peer transactions.
Davidson also expressed concerns over the increasing number of countries exploring or adopting CBDCs, likening their approach to China's surveillance state technology.
He vowed to stand against such developments, stating, "Not on my watch."
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