[Blockchain Today Reporter Lee Ji-eun] Contrary to the wishes of early supporters, cryptocurrencies were negatively viewed by U.S. Democrat Senator Elizabeth Warren at a hearing on the 9th (local time) comparing cryptocurrencies and central bank digital currency (CBDC). He argued that the flow and CBDC could be an alternative.
He remarked at the meeting that the recent cryptocurrency explosion has helped many people understand the underlying technology behind digital currencies. However, he added that cryptocurrencies are a ‘fourth alternative to real currencies’.
“Central bank digital currencies offer huge promises,” Warren said. “A legitimate digital public currency can help drive out fake digital private money.”
He also cited DOGE as an example of a ‘fake’ currency, and expressed the opinion that several cryptocurrencies are not suitable as an exchange medium due to their volatility. “Cryptocurrency is a poor investment,” he said. “The cryptocurrency world, unlike the stock market, does not currently provide consumer protection. As a result, honest investors and those who want to put off saving are being driven by scammers.”
He also expressed his views on cryptocurrencies involved in many illegal activities, as well as environmental concerns about cryptocurrency mining, and the fact that many people in the United States have run out of fuel due to ransom demands from hackers who recently attacked the Colonial Pipeline. mentioned etc.
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