The Quiet Rebranding Of CBDCs As "Digital-ID"
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The Quiet Rebranding Of CBDCs As "Digital-ID"
Authored by Mark Jeftovic via BombThrower.com,
Let’s call them for what they are: Social Credit systems.
We know that “CBDC” stands for Central Bank Digital Currencies – and we have long held our hypothesis on what those entail (the TL;DR is that they will either launch as, or morph into, China-style social credit systems).
We’ve seen an Executive Order expressly ruling out CBDCs in the US, but as I keep warning readers: we’re seeing components we’d expect to see under a CBDC system appearing – only they aren’t originating at The Fed (who has never really expressed an interest in them, anyway).
Now the US Treasury Department is seeking comments on Digital ID as it relates to DeFi:
“The Department of the Treasury has filed a request for public comments to provide input on the use of “innovative or novel methods to detect and mitigate illicit finance risks involving digital assets” in accordance with the GENIUS Act, as well as in accordance with Donald Trump’s policy to support “the responsible growth and use of digital assets,” as outlined in the P