On March 9, the Biden administration issued a sweeping executive order directing a laundry list of government agencies to develop plans to regulate cryptocurrencies like Bitcoin, as well as to produce a detailed plan to study the potential creation of a central bank digital currency (CBDC) for the United States.
The development of a digital currency should worry Americans everywhere, regardless of their ideological and political views. Once a digital currency is in place, government and/or Federal Reserve officials would have more power than ever to control, track and coerce individuals and U.S. businesses.
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