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Central bank digital currencies (CBDC) remove the key advantages of decentralized cryptocurrencies while offering no clear advantages of their own, according to Oliver Linch, CEO of Bittrex Global. Linch joined Kitco News reporter Ernest Hoffman to discuss the latest data which shows that 93% of central banks are working on CBDCs while also stepping up surveillance of their countries’ crypto markets. They also discuss arguments for and against CBDCs, and review recent news from China, Russia, Brazil and other jurisdictions.
Follow Kitco News on Twitter: @KitcoNewsNOW (https://twitter.com/KitcoNewsNOW)
Follow Oliver Linch on Twitter: @OliverLinch (https://twitter.com/OliverLinch)
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0:00 – CBDC means many things
3:35 – What problem do they solve?
6:57 – Main motives for CBDCs
9:58 – CBDCs don’t help AML/KYC
12:20 – CBs driven by FOMO
17:04 – No clear policy direction
21:54 – CBDCs not for crypto people
23:33 – Russia’s CBDC and crypto
32:14 – China’s CBDC for Belt and Road
41:42 – CBs need to answer questions
#CBDC #crypto #centralbank
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