US Congressman Warren Davidson Calls to Ban CBDC

Vignesh Karunanidhi
US Congressman Warren Davidson has called to ban CBDC and also criminalize any effort to design, build, and establish it.
Source: Responsible Statecraft

US Congressman Warren Davidson has been quite vocal in the cryptocurrency realm. He had earlier introduced legislation to fire SEC Chair Gary Gensler in April. Davidson’s tweet came in response to a tweet from Coinbase’s chief legal officer, Paul Grewal.

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Grewal’s tweet discussed SEC Chair Gensler’s intention to reevaluate the proposed redefinition of an exchange. The United States Representative also mentioned that former SEC chairs are eligible. He stated that the legislation aims to address a long series of perceived abuses. Now, in one of his recent tweets, Davidson has called for the ban of central bank digital currencies (CBDC).

Warren Davidson asks Congress to criminalize efforts to design CBDC

The United States Representative mentioned in one of his recent tweets that the Federal Reserve is building the financial equivalent of the death star. Additionally, he stressed the fact that a CBDC corrupts money into a tool for coercion and control.

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Davidson also stated that Congress must swiftly ban these CBDCs and criminalize the efforts to design, build, develop, test, or establish a CBDC. In his tweet, he also shared a screenshot of a job posting on Indeed by the Federal Reserve Bank of San Francisco, where they are looking to hire a senior crypto architect to develop a CBDC.