CBDC Can Fix Enormous Failure Of The US Big Banks : Senator Warren

Senator Elizabeth Warren talked about the adoption of blockchain technology through CBDCs. And according to her, CBDC can fix the problems of the enormous failure of big banks in the US.

Elizabeth Warren is a U.S senator. She is a member of the Senate Banking Committee in the U.S. on the. Recently in the conversation of CNBC’s Squawk Box, she talked about the Cryptocurrency assets & market And also she suggests the healthiest way to regulate it. The whole conversation moved on the wealth tax also. 

When the anchor of CNBC’s Squawk Box asked ” will crypto disrupt the modern financial system in any way”, then she said that Digital Currencies are interesting and Central Bank Digital Currency can be much interesting in particular. 

Warren considered that it is a big Failure of big U.S banks which are not able to reach all the citizens of U.S territories. But with the adoption of Central Bank Digital Currency, we may overcome such failures of banks.

In the second last part of the conversation, Warren emphasized on the points of many problems which are in existence in the current global financial system & particularly in the U.S’s financial system. She suggested that we have to adopt & regulate crypto then we will get better advantage of it and also we will be able to prevent the risks that are associated with crypto.

And on the matter of the tax system, she suggested that we should introduce tax in the same fashion instead of following different rules. And also she said that wealth tax should be on the wealth instead to consider the type of the assets he has. 

So through her statement, Warren clearly supports Crypto as a class of asset like stock market assets.

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