On Wednesday, U.S. House Republican Rep. Marjorie Taylor Greene (MTG) shared an article on the Federal Reserve’s Fednow project, criticizing the central bank’s digital currency initiative. The Congresswoman, R-Georgia, argued that the U.S. should return to a “gold standard” and said that the country is “hard-passing” on a digital currency payment system.
MTG slammed the Central Bank of the United States’ “Fednow” digital currency program
Rep. Marjorie Taylor Green (R-Georgia) is known for her controversial statements and is not shy about expressing her views. The American politician and businesswoman has represented Georgia’s 14th Congressional District since 2020, and on April 5, shecriticized the U.S. central bank’s Fednow projectand said the U.S. should return to a gold standard instead of relying on a digital currency payment system She stated that “it is a A “hard path,” the senator added. Like other Republican politicians, Green (MTG) does not appear to support central bank digital currency (CBDC).
Texas Senator Ted Cruz and Florida Governor Ron DeSantis have introduced bills opposing CBDC. MTG’s stance on permissionless cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) is “unclear,” according to a Coinbasereporton the Georgia representative. The Coinbase report, which addresses the opinions of congressional leaders on crypto assets, states that there is “not enough data to determine” Green’s official stance. However, the report does mention that MTG spoke out on Twitter in response to Canadian Prime Minister Justin Trudeau’s actions against a convoy of truck drivers.
“As Trudeau becomes a total dictator in Canada and steals Canadians’ crypto wallets, the Democrats and big banks are lining up to sell out #crypto and #blockchain.” tweetedGreen: “Joe ‘big man’ Biden always gets his share. Please protect the rights of crypto owners,” she added. The Georgian politician also appeared on the“America First with Sebastian Gorka” podcast in an episode titled “Your Bitcoin is in Danger. “At a November 2022 press conference, MTGtold Ukraine discussed the alleged theorythat donated crypto funds sent were transferred to Sam Bankman-Fried’s FTX.
Many believe that the CBDC is a disastrous idea for the United States. Economist Richard Warner recently called Fednow’s July launch “questionable.” Former Republican Congressman Ron Paul of Texas also criticized Fednow’s payment system three years ago, encouraging crypto competition instead. He said, “I’m all for cryptocurrencies and blockchain technology because I like competing currencies.” Senator Elizabeth Warren (Democrat), who calls herself “anti-crypto,” recently denounced competing currencies like bitcoin and called for the U.S. to move to CBDC.
What do you think about Marjorie Taylor Greene’s criticism of the Fednow project and her call for a return to the gold standard? Do you agree with her stance? Share your thoughts on this subject in the comments section below.
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