Haven1 director Ron DeSantis responded to the proposal to ban CBDCs from the Haven1 director.
Explanations continue to come for CBDCs, one of the most important issues in the crypto money industry for governments. The Haven1 director disagreed with DeSantis’ views on the matter.
Ron DeSantis: The harms of banning CBDCs are greater
Akash Mahendra, director of the Haven1 Foundation and portfolio manager of the digital wealth platform at Yield App, said Ron DeSantis’ proposal to ban CBDCs could do “more harm than good.” Stressing that policy should not be confused with cryptocurrencies, Mahendra added that CBDCs have technological advantages and benefits in helping the unbanked and reducing criminal activity.
Mahendra said such a decision could do “more harm than good”, opposing Ron DeSantis’ proposal to ban CBDCs if elected US president. Mahendra, director of the Haven1 Foundation and portfolio manager of the digital wealth platform at Yield App, said the proliferation of digital money is inevitable and CBDCs will be integrated into existing payment systems in the future.
Mahendra made the following statements in his statements:
“Central bank digital currencies (CBDCs) caught attention again with Ron DeSantis promising to ban CBDCs in the US if elected president. But mixing pure politics with cryptocurrencies can be harmful. Cryptocurrencies offer unique features such as immutability, privacy, transparency, decentralization and scarcity that are fundamentally different from CBDCs.”
Mahendra continued his statements as follows:
The digitization of money and the integration of CBDCs into existing payment systems will occur in the near future. But if the U.S. government is considering creating a CBDC, it should only consider the technological advantages and benefits.”
Mahendra also cited examples of companies such as Quant Network collaborating on projects such as Bank for International Settlements and Bank of England with Project Rosalind in the UK to develop APIs for CBDCs and bring the concept to life.
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