The Bitcoin Policy Institute (BPI) has released a report detailing why the U.S. should not create a central bank digital currency (CBDC) and should instead promote freedom and privacy, per a release sent to Bitcoin Magazine.

BPI begins by exploring the strong possibility of the 21st century being known as “The Chinese Century”, in reference to the authoritarian use of China’s CBDC and other military, economic, and cultural hegemony.

Thus, as more nations have started to develop and release their own versions of CBDCs, it is becoming increasingly clear that governments are vying to not only hold their authority over legacy finance, but seek an altogether new level of power.

By Antoni