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Crypto Crunch Time

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Add to Bookmarks Jul 29, 2021 The likelihood that the world’s major central banks will sooner or later issue their own digital currencies has brought increased scrutiny of the sector’s existing private players. Sooner or later, cryptocurrency enthusiasts who have long argued that politicians would never dare to regulate Bitcoin and the rest will need to think again. In this Big Picture, former Greek finance minister Yanis Varoufakis argues that Bitcoin-like central-bank digital currencies (CBDCs) would make money more secure, transparent, and democratic. But

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The likelihood that the world’s major central banks will sooner or later issue their own digital currencies has brought increased scrutiny of the sector’s existing private players. Sooner or later, cryptocurrency enthusiasts who have long argued that politicians would never dare to regulate Bitcoin and the rest will need to think again.

In this Big Picture, former Greek finance minister Yanis Varoufakis argues that Bitcoin-like central-bank digital currencies (CBDCs) would make money more secure, transparent, and democratic. But Johns Hopkins University’s Anne O. Krueger, while noting CBDCs’ potential financial-inclusion benefits, urges policymakers to address several foreseeable risks before introducing...

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