U.S. Sen. Elizabeth Warren (D.-Mass.) said Thursday that she thinks it’s time for the U.S. to create a central bank digital currency, a virtual form of a country’s fiat currency.
“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,” CoinDesk reported Friday, citing Warren in an interview with NBC.
When asked about how Bitcoin (BTC-USD) could end up being regulated, Warren responded, “I think it’s going to end up getting regulated,” though she did not express what form such regulations might consist of, CoinDesk noted. Recall in January when the Federal Reserve released a CBDC discussion paper, which reflected a neutral stance on the matter.
Speaking of the world’s largest digital asset by market cap, bitcoin (BTC-USD +1.6%) is trading slightly higher at around $46.3K Friday afternoon.
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In the beginning of August, Elizabeth Warren said that crypto markets may need a bailout someday without proper regulation.