Elizabeth Warren called for the Fed to accelerate the development of the digital dollar

The senator believes that with CBDC, central banks could improve a lot in the digital industry of the financial market

01.04.2022 - 14:00

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What’s new? Senator Elizabeth Warren has stated that it is time for the US to create its own central bank digital currency (CBDC). She said this on NBC’s “Meet the Press Reports” program, CoinDesk reports. Warren believes that with CBDC, central banks could improve a lot in the digital industry of the financial market. The senator has called on the US Federal Reserve System (Fed) to move in this direction and accelerate the development of the digital dollar.

CoinDesk’s material

What else did Warren say? Asked if bitcoin will face regulation as a commodity, Warren said that sooner or later the cryptocurrency will be regulated by the government. But she did not elaborate on exactly how this would be implemented. The senator also compared the cryptocurrency industry to the US mortgage crisis, calling the digital space a “bubble.”

What preceded it? In March, Elizabeth Warren introduced a bill in the US Congress against Russia’s use of cryptocurrencies to evade sanctions. In December 2021, Warren demanded information from Greenidge Generation about the impact of mining on the environment in an open letter addressed to the company’s CEO, Jeffrey Kirt.

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