Responding to whether a central bank digital currency (CBDC) could launch in the U.S., Circle Chief Strategy Officer and Head of Global Policy Dante Disparte explains why he thinks it's not likely to happen anytime soon during CoinDesk's State of Crypto 2023 event in Washington, D.C.
Do you think the CBD C is coming in? The U SI? Don't think so for a lot of reasons. Not least of which of course, is our societal tendency to like freedom to like privacy. I think the air gap between the central bank, your wallet and how you spend your money is a powerful feature in free, free societies. And I don't think the United States is ready for that operating model. We could barely pass stablecoin legislation in no small measure because of state interest and this boundary question around federal preemption. Is it important societal debate that we have even the fed's own acknowledgement of any central bank experiment at the FED would require congressional authorization before it is even launched. And so I don't, I don't think the US would, would operate in that type of structure, but we should absolutely encourage public sector payments innovation as well.