Brian Armstrong Says China’s Digital Currency Is A Threat To U.S.

Brian Armstrong strongly argues that China’s Central Bank Digital Currency will pose a threat to the U.S. Armstrong see the CBDC as a move that will disrupt the United States reserve currency in the long run.

According to Coinbase CEO Brian Armstrong, he has already discussed his concerns with heads of agencies and lawmakers.

Brian Armstrong had a meeting with Jerome Powell and Paul Ryan two months ago on May 11. However, the meeting wasn’t made public until the publication of Powell’s meeting calendar last Friday, July 2, 2021.

The calendar disclosed that the meeting between the former speaker of the House of Reps, Paul Ryan, Coinbase CEO Brian Armstrong, and Chairperson Powel lasted for 30 minutes.

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The meeting took place before the Federal Reserve announced the upcoming release of a “discussion paper” about CBDC (Central Bank Digital Currency).

For now, no one can say why the former Representative was there since he’s now working with Solamere Capital, an investment firm that deals in private equity. 

Brian Armstrong On The Topic Under Discussion?

The meeting calendar, which later surfaced to the public, did not disclose what the topics under discussion were.

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But from what Armstrong mentioned in his May 11 tweets, the meeting was a way to clarify the lawmakers’ doubts about crypto and also to gain more insight into the regulatory issues surrounding the technology in the U.S.

In his tweets, Coinbase CEO mentioned that he declared his opinion on the CBDC that China is testing in the meeting.

China had started testing the digital yuan on May 1 & 5 when they…

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