Australia's Central Bank Launches Digital Currency Project

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    The Spin

    Pro-establishment narrative

    The RBA is taking a necessary step toward normalizing the already-established cryptocurrency market. The question isn't whether the technology works, it's how the government can best collaborate with crypto industry leaders to ensure a CBDC maximizes the potential benefits of an official currency for all Australians.

    Establishment-critical narrative

    While a digital currency certainly has advantages, we should have privacy concerns. A CBDC - which would allow the monitoring and restricting of transactions - could become a government instrument that violates people's financial independence.

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