While stablecoins threaten the state’s monopoly on power, a CBDC would only strengthen it.
The U.S. faces a choice between integrating proven stablecoins or outlawing them in favor of a monopolized CBDC.
This episode is sponsored by NYDIG.
On this week’s “Long Reads Sunday,” NLW reads Nic Carter’s recent essay “Why Central Bankers Invoke Free Banking to Attack Stablecoins.”
The Breakdown is written, produced by and features NLW, with editing by Adam B. Levine and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: tntemerson/iStock/Getty Images, modified by CoinDesk.
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