Appearing on NBC News on Thursday, Senator Elizabeth Warren (D-MA) called on the United States government to create a central bank digital currency (CBDC), which some longtime crypto proponents believe could be used to monitor citizens.
A transcript is as follows:
CHUCK TODD: Are you here [on creating a Central Bank Digital Currency]?
SEN. ELIZABETH WARREN: Oh, for a central bank digital currency? Yes. I think it’s time for us to move in that direction.
TOD: Every time you look at each piece of paper money that we issue, not with coins, but with paper, has its own identity. So basically we are now ready for blockchain. Should it be like this?
SEN. WARREN: I think that was the problem we’re trying to solve and if the problem you’re trying to solve is the fast and almost frictionless ability to send money across the country and the world, a digital currency of the central bank does. You don’t need a stablecoin for this.