Akash Mahendra, portfolio manager at Yield App, said Ron DeSantis' proposal to ban CBDCs could do “more harm than good.”
central bank digital currencies in the United States if elected president, Akash Mahendra said such a decision could do"more harm than good."
“Central bank digital currencies have once again been thrust into the spotlight, this time in light of Ron DeSantis vowing to ban CBDCs in the U.S. if elected president,” Mahendra said. “Yet mixing pure politics with crypto could do more harm than good. At its core, cryptocurrencies offer unique features that have only just been made possible, with immutability, privacy, transparency, decentralization and scarcity — fundamentally different from CBDCs.
Mahendra cited examples in other countries such as Project Rosalind in the UK, where companies like Quant Network were selected to collaborate with the Bank for International Settlements and Bank of England to develop APIs for CBDCs and bring the concept closer to reality.
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