U.S. lawmaker Warren Davidson described Central Bank Digital Currencies (CBDCs) as a tool for coercion and control.
In a May 2 Twitter thread, Davidson said CBDCs were the antithesis of sound money, warning people to beware of any protocol working with central banks to build digital currencies.
Bitcoin is sound money
The lawmaker pointed out that Bitcoin (BTC) helps to solve transaction restrictions imposed by traditional financial institutions.
According to Davidson, Bitcoin’s permissionless and peer-to-peer features are essential components of sound money. He added that sound money was “essential to defending freedom.”
The pro-crypto lawmaker was commenting on a tweet from the CEO of real estate private equity firm Cedar Creek Capital, AJ Osborne. In his tweet, Osborne highlighted the challenges he faced while trying to perform a basic transaction with a traditional financial institution.
Lawmakers criticize Whitehouse inconsistent approach to crypto regulation
In a May 1 lett
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