Microsoft President: Oppose private digital currencies!

Ritu13

Even before this crisis, social media giant Facebook proposed a plan to create a stablecoin and payment network called Libra (later renamed Diem). It quickly raised concerns among decision-makers worldwide, with privacy issues, money laundering, and loss of control over the currency system being worrying factors for individuals and regulatory officials. Brad Smith stated:

"I think the world has worked quite well with the government having the ability to issue currency for the last several hundred years. We're not a bank, we don't want to become a bank, and we certainly don't want to compete with our banking customers."

Currently, banks, including the Federal Reserve (Fed), are considering whether to implement their own central bank digital currencies. However, Fed Chairman Powell and European Central Bank Council member Jens Weidmann expressed at the same conference this week that they are not in a hurry to promote central bank digital currencies.

Ritu77

Generally, it's expected that the government will take the lead.

Kahn332

Opposition to digital currencies is also quite normal.

Jafar224

Microsoft, as a company, seems to have a somewhat outdated perspective.