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41 sats \ 4 replies \ @SimpleStacker 23 Jan \ parent \ on: Trump issues and order making CBDC illegal. Politics_And_Law

(c) “Central Bank Digital Currency” means a form of digital money or monetary value, denominated in the national unit of account, that is a direct liability of the central bank.

Does the definition seem overly broad to you?

The rest of the definition section doesn't seem to very precisely define what any of these terms mean. But I'm not a lawyer so I wouldn't know.

30 sats \ 3 replies \ @siggy47 23 Jan

This lawyer has no idea. I'm not sure if it matters. I recall talk that the US won't need a coin called a CBDC, because a dollar denominated stable coin like tether, backed by US bonds, serves the same purpose. I think Mark Goodwin has talked about this a lot.

55 sats \ 2 replies \ @SimpleStacker 23 Jan

I guess it's one of those things where you don't know until it's tried in court, right?

30 sats \ 1 reply \ @siggy47 23 Jan

I think so. @Arceris might know more about this than me.

141 sats \ 0 replies \ @Arceris 24 Jan

I’m going to have to agree: we’ll have to wait and see.

Of course, a tether or another stabletoken (or PBDC), with full capture, would be just as bad as a CBDC.

Also, as an EO, the next president can just reverse it