The story is simple! No one is forced to use Drex. I will use my Crypto.
Investidores - Brasileiros
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Bullish
Trump says no to “US Drex” and yes to cryptocurrencies!!
US President Donald Trump has opposed the creation of a “digital dollar”, but has supported cryptocurrencies, launching his own currency, $TRUMP .
Meanwhile, the Central Bank of Brazil is developing the digital real, called Drex, which faces criticism from lawmakers like Júlia Zanatta, who are concerned about state control.
Trump has said that the “digital dollar” could make money disappear from accounts. In Brazil, Drex is in the testing phase and is being developed in partnership with large banks. CBDCs, like Drex, are centralized and controlled by the Central Bank, while cryptocurrencies like Bitcoin are decentralized.
CBDCs allow the Central Bank to create, destroy and block assets, while cryptocurrencies are governed by transparent and decentralized rules. Privacy is a concern, as cryptocurrency transactions are anonymous, while CBDCs require user identification.
Lawmakers fear that Drex will facilitate economic control over the population. Legislative proposals seek to prevent the extinction of paper money and ensure that any implementation of digital currency is approved by the National Congress.
The Central Bank states that Drex will be used for large transactions and will have the same value and acceptance as physical reais, with regulation and issuance carried out by the Central Bank and use intermediated by other financial institutions.