The head of the Bank of International Settlements, Agustín Carstens, once said, “The key difference with the CBDC is that the central bank will have absolute control on the rules and regulations that will determine the use of that expression of central bank liability. And also, we will have the technology to enforce that.”

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“So they’re looking for absolute control,” remarked Nawaz. “I often say, ‘When people say something, believe them.'”

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