Central Bank Digital Currencies (CBDCs) can be programmed with restriction🔒 to buy Bitcoin.

A Central Bank Digital Currency (CBDC) is a digital form of fiat currency that is issued and regulated and backed by a country's Central Bank. It is a digital representation of a country's physical currency that can be used for payments, transactions, and other financial activities.

Unlike cryptocurrencies, CBDCs are backed by the government and have the same legal status as physical currency.

It is possible that people may be allowed Bitcoin to buy with a Central Bank Digital Currency (CBDC), but it would depend on the specific design and implementation of the CBDC in question.

Example of CBDC Command list. Source: Unicoin DCMA

Some CBDCs may be designed to function like digital versions of physical currency, in which case they could potentially be used to purchase goods and services, including Bitcoin. Other CBDCs may be designed to function more like digital assets, in which case they may not be accepted by all merchants or exchanges that deal in Bitcoin.

Ultimately, the decision to accept a CBDC as payment for Bitcoin would be up to the individual merchant or exchange. If a CBDC were widely adopted and accepted as a form of payment, it could potentially become a more convenient and efficient way to purchase Bitcoin compared to traditional payment methods.

Some stablecoins are already backed by CBDCs

There are a few stablecoins that are currently backed by CBDCs, or are in the process of being developed with CBDC backing. Here are a few examples:

e-CNY: The Digital Currency Electronic Payment (DCEP) project by the People's Bank of China is a CBDC that is already being used by some businesses and individuals in China. Some stablecoins, such as CNHT and CNYT, are backed by e-CNY.

USDC and USDT: While not currently backed by CBDCs, both USDC and USDT have announced plans to explore the use of CBDCs as a reserve asset in the future.

USDT and USDC explore the use of CBDCs as a reserve asset in the future

Overall, stablecoins backed by CBDCs can offer additional security and stability (and also more Centalized Control) compared to other types of stablecoins. However, it is important to note that CBDCs are still a relatively new technology and there may be regulatory and technical hurdles that need to be addressed before they can be widely adopted.

If USDC and USDT decide to use CBDCs as reserve assets in the future, it could potentially have a positive impact on the stability and transparency of these stablecoins.

Currently, USDC and USDT are backed by a combination of fiat currencies, cash equivalents, and other assets. However, the exact composition of these reserves is not always transparent, and there have been concerns about the stability of these stablecoins in certain market conditions.

Stablecoin regulation draft bill...

The House Financial Services Committee published a draft bill on stablecoin regulation Saturday, its first major piece of crypto-related legislation in 2023.

The bill, which does not yet have a number, would require stablecoin issuers to have reserves that back the digital assets on an “at least one-to-one basis.”

Those reserves could be composed of U.S. coins or currency, Treasury bills with a maturity of 90 days or less, central bank reserve deposits, and repurchase agreements with a maturity of seven days or less that are backed by Treasury bills with a maturity of 90 days or less. 

The bill would give the Federal Reserve (FED) power over nonbank stablecoin issuers like Tether and Circle, which issue USDT and USDC, respectively. Stablecoins issued by insured depository institutions would fall under the regulators of that bank.

DAI the perfect Decentralized Stablecoin?

MakerDAO is based in the U.S. Almost half of DAIs reserves are USDC. So if Circle would choose (due to an event) to blacklist the underlying USDC, that would mean the end of the road for DAI. To avoid such threat, the basket of assets behind DAI must become more diverse so it relies less on UDSC.

DAI

Opinion🧐

A lot of people out there, not involved in the crypto space, will cheer when these digital currencies are introduced.

But it is imperative to understand that once everyone is using them, your financial privacy will be almost totally gone.

CBDC is not a Currency, it is simply the government having a remote control for your bank account. Most of us already do far more business by electronic means than we do with cash, the only difference a CBDC makes is that the government gets to control how and where your money is kept and used.

Bitcoin vs CBDC

Bitcoin gives everyone the freedom to save and transact, irrespective of their race, gender, and place of birth. Freedom from financial slavery. While CBDS equales.......

Bitcoin VS CBDCs

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#BTC vs #cbdc #educational #Binance #buildtogether

BTC vs DXY...

DXY (Indeks Dolar AS) adalah ukuran nilai dolar Amerika Serikat relatif terhadap sekeranjang mata uang asing. Bitcoin adalah mata uang digital terdesentralisasi yang beroperasi secara independen dari bank sentral.

Ketika DXY (Indeks Dolar AS) naik, biasanya ini berarti nilai dolar AS meningkat dibandingkan mata uang utama lainnya. Secara umum, kenaikan nilai dolar AS dapat menyebabkan penurunan harga mata uang kripto, termasuk Bitcoin dan altcoin lainnya.

Hanya sedikit kripto yang menarik lebih banyak kontroversi, sensasi, dan humor dibandingkan (kekasih Elon Musk) Dogecoin (DOGE). Namun, dengan latar belakang lelucon, meme, dan skeptisisme, Dogecoin tidak secara diam-diam naik ke sepuluh besar mata uang kripto berdasarkan kapitalisasi pasar. Penting bagi penambang kripto atau mereka yang mempertimbangkan perdagangan ini, Dogecoin adalah salah satu koin paling menguntungkan untuk ditambang.

Dogecoin diluncurkan pada bulan Desember 2013 sebagai cabang dari Luckycoin, dan menawarkan Bitcoin dan Litecoin dalam garis keturunannya.

Koin ini adalah satu-satunya mata uang kripto yang dapat ditambang di antara sepuluh kripto teratas, selain duo terkemuka — Bitcoin dan Ethereum.

Hari ini adalah Hari Dewi, hari eksklusif bagi saya dan jutaan dewi mata uang kripto. Saya ingin berbagi lebih dari 7 tahun pengalaman saya di industri mata uang kripto, dengan harapan dapat menyemangati Anda bersama.

Ketika saya pertama kali tiba, jarak antara saya (Anda) dan dua puluh juta

(1) Apa yang saya lewatkan saat pertama kali memasuki lingkaran mata uang

Saya datang ke lingkaran mata uang pada awal tahun 2016. Itu adalah era ketika seratus bunga bermekaran, dan siapa pun yang berani dan memiliki sedikit pemikiran dapat menangkap emas. Di saat yang tepat, saya datang dengan penuh harapan. Saya mengenal banyak selebritis sebelum tahun 1994, dan beberapa dari mereka mungkin masih terkenal sampai sekarang, seperti Lao Mao, tapi mereka semua sudah pergi ke luar negeri.Mungkin mereka memotong daun bawang terlalu kasar dan takut membawa kembali lingkaran Audi.

The measure would require stablecoin issuers to have reserves that back the digital assets on an “at least one-to-one basis.

HFSC

The House Financial Services Committee published a draft bill on stablecoin regulation Saturday, its first major piece of crypto-related legislation in 2023.

The bill, which does not yet have a number, would require stablecoin issuers to have reserves that back the digital assets on an “at least one-to-one basis.”

Those reserves could be composed of U.S. coins or currency, Treasury bills with a maturity of 90 days or less, central bank reserve deposits, and repurchase agreements with a maturity of seven days or less that are backed by Treasury bills with a maturity of 90 days or less. 

The bill would give the Federal Reserve (FED) power over nonbank stablecoin issuers like Tether and Circle, which issue USDT and USDC, respectively. Stablecoins issued by insured depository institutions would fall under the regulators of that bank.

It would also impose a two-year moratorium on crypto-backed stablecoins and commission a study on a central bank digital currency; and it would impose harsh penalties on those stablecoin issuers who fail to register their offerings: illegal issuers could face up to five years in prison and a $1 million fine.

Stablecoins are a type of digital currency designed to be pegged to a fiat money, therefore offering investors more price stability than cryptocurrencies like Bitcoin or Ethereum. USDT and USD Coin, for example, are pegged to the U.S. dollar and both worth $1.

Lawmakers published the draft ahead of a Wednesday hearing.

Top 5 Stablecoins

The proposed legislation would regulate stablecoin issuers such as Circle and Tether through the Federal Reserve Bank. Banks and credit unions that want to issue their own stablecoins would need approval from their respective regulatory bodies such as the Federal Deposit Insurance Corporation (FDIC) or the Office of the Comptroller of the Currency (OCC). Registration would be mandatory for any issuer looking to conduct business in the US, regardless of their headquarters.

Another provision in the bill would prohibit uncollateralized stablecoins for two years. This would make over-collateralized, decentralized stablecoins illegal in the US, dealing a major blow to the DeFi industry if the bill is passed in its current form. Stablecoins like MakerDAO's DAI, which existed before the bill was proposed, would be excluded from the proposal under a grandfather clause. However, the US Department of the Treasury should still monitor the sector closely.

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#BTC #Stablecoins #Binance #buildtogether

As a young female college student, having additional income sources was one of the main deals for me after good grades. And to keep up with the demanding bills at school and the hard economy, Ponzi schemes were something almost half of the students back then did as a side hustle.

In the year 2017 precisely, I started looking for all possible ways to make money off the internet in the fastest possible way. In the quest for good money, I ventured into a lot of MMM and Ponzi scheme platforms.

For those of us just getting to hear these words, it meant having your money doubled or tripled by bringing in others.

It was in the heat of this money quest that I heard about bitcoin. So, one of the Ponzi sites then (Zarfund) required the use of bitcoin as compared to other sites in which fiat was used. A friend gave me some of his bitcoins which I stored in a blockchain wallet as of then and used for the transactions.

Fast forward to the late months of that same year, I heard about Steemit. a platform where one can make money by just writing. I dived into it fully, joined communities and got to learn about the platform, made lots of posts and some money.

During this time I volunteered a lot in many communities as a community moderator all in the bid to gain a proper understanding of cryptocurrency and how the Steemit and Hive blogs worked then.

However, things began to evolve in the crypto space real quick and due to some negligence on my path, I lost my savings wallet. This was so discouraging and I took a break from the crypto space for years.

Forward to late last year, I came back fully into the space and I realized I had a lot of catching up to do. It has not been a too tough journey as I had friends who were willing to put me back on track.

Nevertheless, since my return last year, I have worked on various projects as an ambassador, influencer, and community moderator/manager, Open mic manager, etc.

I am currently still influencing projects on Twitter and a big Fan of #Binance I hope this story inspired you not to give up so you won't miss out on a lot. Also, do not stop building as there is no limit to what you can achieve

#buildtogether #biscasso #crypto101