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Will this basically mean the federal government would have a record of all our transactions?
by _-david-_ 5y ago
Will this basically mean the federal government would have a record of all our transactions?
- hnaccount141 5y agoThey already do, they just have to ask Visa/AmEx/Mastercard nicely.
- _-david-_ 5y agoNot if you pay in cash. The problem with many of these proposals are that the backers also want to start limiting the use of cash.
- tantalor 5y agoIt depends on how Congress writes the law that would enable CDBC. They could simply copy & paste the existing laws regarding banking privacy, e.g., RFPA. https://en.wikipedia.org/wiki/Right_to_Financial_Privacy_Act https://en.wikipedia.org/wiki/Right_to_Financial_Privacy_Act
- uncletammy 5y agoAs if the FISA courts wouldn't be employed to circumvent any constraints placed on the system by congress.
- tantalor 5y agoThat's already the case with existing banks so not much of a useful distinction to make here.
- rvense 5y agoThis is a legal problem, not a technical one.