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Vegas Congress Candidate Fuels the BTC vs CBDC Debate on Twitter

Vegas Congress Candidate Fuels the BTC vs CBDC Debate on Twitter Market News
  • Las Vegas Congress candidate Jane Adam prefers cryptocurrency over CBDC.
  • Around 100 countries are exploring and piloting their CBDC implementation.
  • Her post started a debate between Twitterati favoring and opposing her statement.

Grappling with the biggest debate in the world of Web 3.0Cryptocurrency vs Central Bank Digital Currencies (CBDC), Jane Adam, a Las Vegas Congress candidate of the General Election 2022, tweeted today, which riled up a storm among Twitteratis.

Adams articulated her support for crypto adoption throughout her campaign and mentioned that “the US government should embrace Bitcoin and shouldn’t stifle innovation through over-regulation” in her policies.

However, with the exponentially evolving and emerging global market propelling toward crypto adoption, governments and citizens across the world are looking for ways to circumvent the risks associated with decentralized finances.

Last month, US President Joe Biden signed an executive order instructing the development of a US CBDC which cited that 100 other countries are currently exploring ways to implement CBDC in their systems.

Arguing on the impacts of CBDC implementation, Adam quoted Thomas Jefferson, who said that, “The issuing power of currency should be taken from the bank and restored to the people, to whom it properly belongs” and added that:

Citizens would use government-controlled digital wallets giving access to personal financial data. The government could even decide who currency is distributed to. This can’t be allowed to happen

With the elections approaching, such a statement divides her audience base on social media. While some favor her opinion, most users replied to her, stating the inevitability of CBDC implementation in the system and how it will accelerate risk-free quick transactions.

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Passionate about crafting content, zealous about the crypto market and ever-intrigued about Web 3.0, Sneha Mukherjee is a writer who believes in brevity, pays attention to details and thinks outside the box.