Thread by @paddi_hansen

1/8 For the CBDC skeptics over in the US, please let the FED know about your opposition/opinion.

The FED launched a public consultation like the ECB did in Europe last year.

You can use it to build up political pressure 👇
#Bitcoin #Crypto

2/ Alongside its long-awaited digital dollar report, the FED also launched a not much noticed public feedback form.

Everyone is invited to comment on CBDC benefits, risks, policy questions, and design features until May 2022.

cnbc.com/2022/01/20/fed…

4/ You can access the FED CBDC feedback form here: federalreserve.gov/apps/forms/cbdc

It contains 22 open questions around financial stability, financial inclusion, privacy, legal questions etc.

5/ What looks like a purely formal process could become a powerful way for the crypto community to build up political pressure against the entire project or at least certain design choices.

The FED will in all likelihood publish the results (like the ECB) and factor them in.

6/ In Europe, the ECB consultation ended with a record level participation (driven by Germany) and a crystal-clear mandate that Europeans want payments to remain a private matter.

ecb.europa.eu/press/pr/date/…

7/ Sure, the ECB could completely ignore that feedback, but that would heavily damage the legitimacy of the entire digital euro project.

"A digital euro must be able to meet the needs of Europeans"
ecb.europa.eu/press/pr/date/…

7/ You can't unfortunately rank the features like in the ECB consultation (the FED might have had a close look at how it went), but you can offer your viewpoint in the 22 open questions.

Question 22 for example: Are there additional design principles that should be considered?

8/ The US public doubling down on the EU feedback would be a powerful political message.

The CBDC feedback form from the FED again: federalreserve.gov/apps/forms/cbdc

Please spread the word @jack @nic__carter @twobitidiot @gladstein @RyanSAdams @jchervinsky @brian_armstrong @APompliano