BREAKDOWN: The Fed Chair and the Treasury Secretary Come Out Against Privacy-Respecting Anonymous Digital Dollar

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CoinDesk

Tech News, Business News, Daily News, News

4.7 • 698 Ratings

🗓️ 25 March 2021

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

The fight to protect privacy in the central bank digital currency era just got more intense. This episode is sponsored by Nexo.io and Casper, and this week’s special product launch, Exodus. Today on the Brief: Fidelity files a bitcoin ETF application Stimmies to China The situation in the Suez Our main discussion: In response to a question from Illinois Democrat Bill Foster during a House hearing earlier this week, Federal Reserve Chair Jerome Powell went on the record as being against an anonymous digital dollar. Treasury Secretary Janet Yellen reinforced that stance, saying anonymity made the U.S. government’s anti-money laundering goals extremely difficult to achieve. In today’s episode, NLW breaks down why bitcoiners should be willing to get involved in the digital dollar privacy fight. - Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io. - Launching in late-March, Casper is the future-proof blockchain protocol that finally address the blockchain trilemma. Learn more at Casper.Network. - Exodus empowers people to control their wealth through a safe and reliable non-custodial crypto wallet, placing the ownership of digital assets back into the user’s hands. Your keys, your crypto. Download Exodus today and learn more at exodus.com. - Image credit: bsauter/iStock/Getty Images Plus See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:43.9	Wondery UK. That's audible.com slash Wondery UK.
0:49.4	The unique X-factor that never existed before, the ability to opt out of the monetary regime you
0:55.5	disagree with, i.e. Bitcoin. For those out there who only want to focus on that, I completely appreciate
1:00.9	it. However, I think you can do that and something else simultaneously. There is no reason that a digital
1:06.7	dollar should not preserve financial privacy, just like cash does. In fact, there are many legal
1:11.5	reasons, constitutional reasons that it should. That's a conversation that Bitcoiners can be
1:16.6	powerful allies for, but not if we don't engage. Welcome back to The Breakdown with me,
1:23.8	NLW. It's a daily podcast on macro, Bitcoin, and the big picture power shifts
1:29.1	remaking our world. The breakdown is sponsored by nexus.combe, Casper, and Exodus, and produced
1:35.5	and distributed by CoinDesk. What's going on, guys? It is Thursday, March 25th, and today
1:42.4	we are talking about the Fed chair and the Treasury Secretary
1:46.6	coming out against a privacy respecting anonymous digital dollar.
1:52.2	First up, however, let's do the brief.
	...

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