U.S. Senator Elizabeth Warren stated it’s time for the U.S. to create its own central bank digital currency (CBDC) on NBC’s “Meet the Press” with Chuck Todd.
“So a lot that banks do wrong, if you think, ‘We could improve that in a digital world,’ the answer is, ‘Sure you could.’ But in that case, let’s do a central bank digital currency,” Warren stated.
“Yes, I think it’s time for us to move in that direction.”
Todd asked the Massachusetts Senator if she believed cryptocurrency is “this decade’s real estate bubble,” which Warren replied, “The whole digital world has worked very much like a bubble works.”
“What is it moved up on? It’s moved up on the fact that people all tell each other that it’s going to be great, just again like it was on that real estate market. How many times did people say, ‘Real Estate always goes up. It never goes down?’ They said it decades ago before the last real estate bubble. They said it in the 2000s, before the crash in 2008.”
In March, Senator Warren announced a new bill that would block crypto firms from conducting business with sanctioned companies.
The Digital Assets Sanctions Compliance Enhancement Act, introduced by Senators Jon Tester (D-Mont.), Mark Warner (D-Va.), Jack Reed (D-R.I.), and others, would allow the President to include crypto companies operating outside of the United States to sanctions lists if caught evading sanctions.