Representative Stephen Lynch joins his colleagues in condemning cryptocurrencies, emphasizing the need for a central bank digital currency (CBDC) to ensure financial stability.
During a press conference, US Democratic lawmakers, including Representative Stephen Lynch, denounced cryptocurrencies as a "scam" and advocated for the development of a central bank digital currency (CBDC). Lynch criticized bills like the CBDC Anti-Surveillance State Act, stating there is no legitimate use case for cryptocurrency, which he linked to illegal activities. This discussion occurs amid a global divide on CBDC initiatives, with some countries progressing while others remain hesitant.