BREAKDOWN: Why the Biden Administration Is Increasingly Concerned With China’s Digital Currency Efforts
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 15 April 2021
⏱️ 15 minutes
🧾️ Download transcript
Summary
A shifting global balance of power is causing a rethink in the U.S.’ relationship with cryptocurrency.
This episode is sponsored by Nexo.io.
On today’s “The Breakdown,” NLW looks at an underreported story from earlier this week. There are increasingly loud whispers that officials across several agencies, including Treasury, National Security and Defense, are growing concerned with China’s digital currency efforts.
NLW looks at:
- Why CBDCs are about power, not digital efficiency
- Why Facebook’s libra was the starting gun
- China’s possible objectives
- Why the U.S. tone on a digital dollar is changing
- How Gary Gensler as SEC Chair could portend a broader attitude shift for the U.S. vis a vis digital currencies
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Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!)
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Transcript
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| 0:49.4 | In many ways, China and the US have represented the poll positions. China, the Challenger, has been aggressively researching, building, and now testing and deploying |
| 0:58.6 | their digital yuan, while loudly proclaiming their intentions. |
| 1:02.4 | The U.S., on the other hand, the incumbent, has, yes, been doing some research quietly in the background, |
| 1:07.2 | but staying much more muted in its declarations. |
| 1:10.4 | Indeed, the standard party line has |
| 1:12.2 | been for some time, we're exploring and we haven't made up our mind. That is starting to shift. |
| 1:20.0 | Welcome back to The Breakdown with me, NLW. It's a daily podcast on macro, Bitcoin, and the |
| 1:27.1 | big picture power shifts remaking our world. |
| 1:30.9 | The breakdown is sponsored by nexus.io and produced and distributed by CoinDesk. |
| 1:37.6 | What's going on, guys? It is Thursday, April 15th, and today we are talking about why the Biden administration is increasingly |
| 1:45.4 | concerned with China's digital currency efforts. Now, I'm not going to do a brief today, |
| 1:50.4 | but I think we have to do at least a quick check-in on coin in the wake of yesterday. |
... |
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