A key tenet of China’s CBDC is control of the yuan. WeChat Pay and Alibaba’s digitization of fiat for use on their payment rails annoys the Central Bank...LUNA and other altcoins rise, but BTC lands in the red. TheSamReynolds and JPRubin23 report
that you can peruse to find Russian officials and oligarchs, Iranian hackers and Hong Kong’s leader Carrie Lam.
Bitcoin and other cryptocurrencies use a decentralized ledger but CBDCs are a digital version of cash issued on a digital ledger. CBDC’s digital ledger is similar to a permissioned blockchain, which is likely where the erroneous comparison originates. During last year’s CoinDesk Consensus conference, Yaya Fanusie, a Fellow at the Center for a New American Security, and former CIA counterterrorism financing analyst, highlighted that China’s CBDC efforts were all about controldisappearance in-country over its support for a measure to remove Xinjiang Cotton from its supply chain.
The truckers’ evasion of government sanctions by using crypto shows that bitcoin has nothing to do with CBDCs. You can’t ‘’cancel’’ a bitcoin transaction like you can with a CBDC, and the only thing you can freeze are the fiat ramps in Canada.
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