G20 heralds launch of government-controlled CBDCs and digital IDs worldwide

 The leaders of the 20 largest world economies, famously known as the Group of 20 nations (G20) have agreed to build the necessary infrastructure to implement digital currencies and digital IDs across their territories during the recent New Delhi Summit.

The G20, currently under India's presidency, adopted a final declaration on the subject over the weekend in the Asian nation's capital. However, this decision naturally incited major anxieties given its potential as a mechanism through which governments can keep tabs on their citizens' spending habits and stifle opposition. According to the group, discussions are already underway to create international regulations for cryptocurrencies. However, many are alarmed by the potential grooming of said digital money through government-aided regulation, which could subsequently lead to the replacement of these decentralized digital currencies with state-controlled Central Bank Digital Currencies (CBDCs) that could override privacy and security attributes...<<<Read More>>>...