Lowest Inflation in 2 Years
The Breakdown
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The Fed's Warning to G20 Leaders on Crypto and CBDCs
The Bank for International Settlements has delivered a stark warning to G20 leaders in a report ahead of this month's summit. They write, Crypto's inherent structural flaws make it unsuitable to play a significant role in the monetary system. Meanwhile, an enterprising blockchain developer says that he has reverse-engineered the source code of Brazil's pilot CBDCs and the details are pretty gnarly. The code would grant the central bank the power to freeze funds, change wallet balances, and transfer balances from one wallet to another.
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