Pat Toomey (US Sen. ret.)

@SenToomey ↗

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Last Checked May 4, 2022

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Thu Jan 20 22:58:16 +0000 2022

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Pat Toomey (US Sen. ret.) @SenToomey

I’m encouraged the report acknowledges the need for clear support from Congress prior to the issuance of a CBDC. The report also rightfully recognizes that the Fed offering retail accounts is not only a terrible idea, but also impermissible by law. — PolitiTweet.org

Posted Jan. 20, 2022

Preceded By

Pat Toomey (US Sen. ret.) @SenToomey

Cryptocurrencies, digital assets, and their underlying technologies offer tremendous potential benefits. As such, I’m glad the @federalreserve has constructively contributed to the necessary ongoing public discussion regarding the issuance of a CBDC. — PolitiTweet.org

In its 40-page report, the Fed said a CBDC could "fundamentally change" the structure of the nation's financial sy… https://t.co/YcNXlUoDrw

Posted Jan. 20, 2022

Followed By

Pat Toomey (US Sen. ret.) @SenToomey

While mentioning the importance of CBDC privacy, I’m concerned the Fed doesn't clearly explain how it would protect consumer data. There’s also a question in my mind whether the report implies that a CBDC would not allow for direct peer-to-peer transactions. This is fundamental. — PolitiTweet.org

Posted Jan. 20, 2022