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<ul class="news-points"> 
 <li>Former SEC official John Reed Stark highlighted the challenges posed by CBDCs.</li> 
 <li>Comparing traditional financial institutions and crypto exchanges, he argued that the former is regulated while the latter is unregulated.</li> 
 <li>The crypto skeptic supported Senator Ted Crux who proposed to prohibit the creation of CBDCs.</li> 
</ul> 
John Reed Stark, a former SEC official, and crypto skeptic, grabbed the attention of his 22.8k followers on Twitter, sharing insights on <a href="https://coinedition.com/what-is-central-bank-digital-currency-cbdc/">Central Bank Digital Currencies (CBDCs)</a>. Stark commented that the creation of CBDCs was the “most absurd financial idea in the history of monetary policy,” highlighting the challenges posed by the central bank’s digital currencies. 
On July 5, the crypto pessimist took to Twitter to share his perspectives on CBDC risks and challenges in comparison to “regulated” traditional financial institutions. Though some crypto aspirants argue that banking institutions are also risky, according to Stark, those risks were tolerable. 
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 The creation of a CBDC is perhaps the most absurd financial idea in the history of monetary policy. First off, just like crypto and stablecoins, you must begin by answering the question of w…
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The post <a rel="nofollow" href="https://coinedition.com/crypto-skeptic-raises-arguments-against-the-creation-of-cbdcs/">Crypto Skeptic Raises Arguments Against the Creation of CBDCs</a> appeared first on <a rel="nofollow" href="https://coinedition.com">Coin Edition</a>.

Crypto Skeptic Raises Arguments Against the Creation of CBDCs

Coin Edition

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