Nick Anthony, a policy analyst at the Center for Monetary and Financial Alternatives of the Cato Institute, tweeted in response to the IMF executive's remarks that CBDC would let governments control what people spend money on.
According to the International Monetary Fund (IMF), central bank digital currencies (CBDCs) may enable a government to regulate how citizens spend their hard-earned money.
Deputy Managing Director Bo Li stated that a CBDC may enhance "financial inclusion" through programmability on October 15 at the IMF-World Bank annual meeting.
Watch below:
“A CBDC can allow government agencies and private sector players to program, to create smart contracts, to allow targeted policy functions,” Li explained. “For example, welfare payments, for example, consumption coupons, for example, food stamps.”
“By programming CBDC, that money can be precisely targeted for what kind of people can own [CBDC] and for what ...
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