Rep. Warren Davidson Says CBDCs An 'External Threat To Western Civilization'

Rep. Warren Davidson (R-Ohio) amplified his stance on Central Bank Digital Currencies on Tuesday, calling them a fundamental threat to the very foundation of Western society. 

What Happened: The House Financial Committee took his concerns on board, approving a bill to prohibit such currencies. “Central Bank Digital Currency (CBDC) is an existential threat to western civilization,” said Davidson, asserting the necessity for the full House to debate and subsequently adopt the legislation to ban CBDCs effectively.

"We also have an amendment to appropriations that bans all federal funds from being used to design, develop, or establish a CBDC. This restriction needs to survive final passage," he added.

In December, Davidson vocally opposed CBDCs on the congressional floor, pinning them as a dire threat and misdirection of the fundamental concept of money.  He went on to describe CBDCs as “evil,” likening them to the “financial equivalent of the Death Star.”

See More: Dogecoin HODLERs Are Beating Shiba Inu With 57% Landing In Profits, IntoTheBlock Data Reveals

Why It Matters: Former President Donald Trump, currently vying for another term, spoke against CBDCs during a New Hampshire rally in January.

Trump said, “As your president, I will never allow the creation of a Central Bank Digital Currency,” vowed Trump, painting a dire picture of governmental overreach into personal finances.

Photo Courtesy: Rokas Tenys On Shutterstock.com

Price Action: At the time of writing, Ethereum ETH/USD  was trading at $3,006.63, up 2.73% over the past 24 hours, as reported by Benzinga Pro. 

Read Next: Here’s How Much You Should Invest In Shiba Inu Today For A $1M Payday If SHIB Hits 1 Cent?

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: CryptocurrencyNewsMarketsCBDCCongressmanDonald TrumpWarren Davidson
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!