Cointime

Cointime

Download App
iOS & Android
Home / Point

Cardano Creator Warns of Dangers of Central Bank Digital Currencies (CBDCs)

Charles Hoskinson, the creator of Cardano (ADA), has stated that the competition in the digital asset space is now between cryptocurrencies and central bank digital currencies (CBDCs). He warns of the dangers of CBDCs and advocates for the principles of decentralized crypto. Hoskinson believes that legitimate crypto projects are the opposite of CBDCs and that the adoption of these principles and philosophies will be the vindication of the fight against CBDCs. He also warns of the potential for transaction discrimination and the exclusion of political minorities if CBDCs are implemented.

CBDCs
Comments

All Comments

Recommended for you

  • Vivek Ramaswamy X's account was hacked, and the cooperation with USUAL was fake news

    Vivek Ramaswamy, who co-leads the US government efficiency department with Musk, confirmed that his X account was hacked and false news about cooperation with USUAL was previously released.

  • Binance Alpha announces first batch of projects: KOMA, Cheems, APX, ai16z, and AIXBT

    according to official sources, Binance Alpha has announced its first batch of projects, which are: KOMA, Cheems, APX, ai16z, and AIXBT.

  • ZachXBT: X platform account leakage may be related to the lack of 2FA security measures

    blockchain detective ZachXBT wrote: "Recently, there have been many account leak incidents on X platform. I suspect that these accounts did not use secure keys or identity verification programs for 2FA."

  • South Korea's Constitutional Court will hold its first hearing on the impeachment case of Yoon Seok-yeol on December 27

    a spokesperson for the South Korean Constitutional Court stated that the court will hold its first hearing on the impeachment case of Yoon Seok-yeol on December 27th. (Jinshi)

  • FASB's fair value accounting standard for Bitcoin officially takes effect today

    On December 16th, according to The Bitcoin Historian, an editor at Bitcoin Magazine, the fair value accounting standards for Bitcoin by the Financial Accounting Standards Board (FASB) officially took effect. Previously, companies could only measure their held Bitcoin assets by historical cost and could not reflect their market value growth. The new standard allows companies to use fair value measurement methods to more accurately reflect the actual value of their Bitcoin assets, which will reduce accounting barriers for companies to include Bitcoin on their balance sheets. MicroStrategy founder Michael Saylor previously stated that FASB has officially passed fair value accounting rules for Bitcoin, which will apply to fiscal years beginning after December 15, 2024. This improvement will encourage companies to adopt Bitcoin as a reserve asset.

  • Musk's lawyer accused the SEC of improper investigation of Musk and his affiliated companies and demanded that the source of the instructions be made public

    On December 13th, Musk tweeted, "Gary Gensler, how could you do this to me?" along with a screenshot of an email from Musk's lawyer to Gary Gensler, the chairman of the US Securities and Exchange Commission (SEC). The email, sent by Quinn Emanuel law firm on behalf of Musk, strongly criticized the SEC's improper investigation of Musk and his affiliated companies. SEC commissioners have issued a final ultimatum to Musk to accept a settlement within 48 hours, or face multiple charges, claiming that this action was taken based on instructions from superiors. At the same time, the letter mentioned that the SEC has reopened its investigation into Neuralink, a company owned by Musk, indicating that the SEC's actions have gone beyond seeking the truth and instead are targeted behavior based on improper motives.

  • The market value of the meme coin related to the murder suspect of the US insurance giant CEO has risen to 77 million US dollars

     DL News, the suspect in the murder of UnitedHealthcare CEO Brian Thompson has attracted the attention of cryptocurrency users. After the insurance executive was murdered on December 4 and a large-scale search operation was launched by the police, bettors on the Polymarket cryptocurrency prediction platform invested $500,000. At the same time, the price of Meme coin related to the details of the search operation skyrocketed. A Meme coin named after the criminal suspect Luigi Mangione's name soared to a market value of $77 million, then fell to about $17 million (currently rising to $20.7 million). DL News stated that this Meme coin surge highlights the dark side of Meme culture.

  • Poland arrests former CEO of Russian CEX WEX and will extradite him to the US

    On December 9th, according to Reuters and Polish media Rzeczpospolita, Polish authorities arrested Dmitry V, former CEO of Russian cryptocurrency exchange WEX, in the center of Warsaw. He is accused of fraud and money laundering during his time managing WEX, which collapsed in 2018.

  • South Korea's ruling party leader: Yoon Seok-yeol will not interfere in South Korea's national affairs before stepping down

     South Korean Prime Minister Han Deok-soo will meet with the leader of the ruling party, Han Dong-hoon, on the 8th local time to issue a joint statement on the South Korean political situation. Han Dong-hoon stated that most people believe that the president should resign. In addition, Han Dong-hoon also stated that he will not interfere with South Korean politics before Yoon Seok-yeol steps down. South Korean Prime Minister Han Deok-soo apologized to the people for the current situation and stated that he will cooperate with the ruling party, the National Power Party, to ensure that there is no blank period in the operation of the country's politics. He also asked the National Assembly to pass the budget proposal.

  • Russian tax authorities will start collecting taxes in digital rubles from 2025

    The Russian tax authorities will start using digital rubles for taxation from 2025, and banks will be given the power to prevent "suspicious" CBDC transactions. According to Klerk, the latest tax law amendment signed by Russian President Putin at the end of last year states that the Russian tax authorities will "switch to using digital rubles for taxation from 2025". The media added that the Ministry of Finance hopes to "start paying pensions and other social benefits with digital rubles". As part of the expanded pilot program, government agencies promise to actively adopt digital rubles in 2024.

Daily Must-Read

Popular Activities

Delysium $AGI & AI Private Yacht Party

Delysium $AGI & AI Private Yacht Party

March 27 - March 27
Seoul

Popular Tags

Cointime
News
Contents
RSS
Company