All articles tagged with #us lawmaker
Standard Chartered's shares dropped nearly 9% after a US Republican lawmaker called for an investigation into the bank over alleged sanctions evasion, despite the bank denying the allegations and stating they are false and repeatedly dismissed by US courts.
US lawmaker Rep. Warren Davidson has criticized the Federal Reserve for exploring the possibility of creating a central bank digital currency (CBDC), which he compares to building an "Orwellian style payment system." Davidson argues that a CBDC would give the central bank authoritarian powers to control and manipulate Americans' money. While the Fed sees potential benefits in a CBDC, such as faster and cheaper payments, critics raise concerns about privacy, government surveillance, and restrictions on the use of money. Davidson calls on Congress to ban and criminalize any efforts to develop a CBDC.