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Crypto’s libertarian warriors face fiat money fightback – The Australian Financial Review
Cryptocurrencies were inspired partly by libertarianism. Ironically, this has provoked a quest by central bankers for a form of fiat money with even greater potential…
Cryptocurrencies are very different from CBDCs, which represent a claim on a central bank. But the growing heft of cryptocurrencies means they could eventually challenge the sway that central banks exert over money supply.
Powell warned of the threat that stablecoins, cryptos linked to assets such as the dollar, might paradoxically pose to stability.
China, which last week staged one of its clampdowns on bitcoin, has other reasons to champion the digital renminbi. It is part of a broader effort…
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