Congressman Stephen Lynch (D-MA) has expressed his concerns regarding the potential impact of the US CBDC on various other cryptocurrencies. A retail CBDC could compete with existing cryptocurrencies by providing greater efficiency and stability, so Lynch’s concerns are not unfounded. US CBDC Late to the Party The Congressman’s comments show that the US is lagging behind other countries in the race to launch CBDCs. Currently, 11 countries have launched CBDC and around 90 countries are developing or researching CBDC. This delay could have a significant impact on future US economic competitiveness. Fed Chairman Jay Powell noted that the Fed has The post Members of Congress Fear US CBDC Will Kill All Other Cryptocurrencies appeared first on Cryptoknowmics-Crypto News and Media Platform .
