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A comment on The Fed released a paper outlining pros and cons of a “digital dollar”. Parent comment

Re:The Fed released a paper outlining pros and cons of a “di... by politician on Monday March 07, 2022 @03:40PM (#30593053)
Every financial institution that processes your banking activity is also making an allow/deny determination on every transaction. Sorry to break it to you.
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Re:The Fed released a paper outlining pros and cons of a “di... by dlp211 on Monday March 07, 2022 @03:48PM (#30593137)
Hardly. If a merchant accepts VISA, VISA isn't about to deny my transaction because the determination of suitability has been made before hand (assuming that I have the available credit).

There are certainly cash only markets and the unbanked, the latter a much larger issue than the former. But isn't the existence of crypto (digital currency) supposed to be the grand solution to the former problem? Or does the promises of crypto fall down when actually forced to be used as a currency in a mainstream sense?

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Re:The Fed released a paper outlining pros and cons of a “di... by politician on Monday March 07, 2022 @08:58PM (#30595644)
Every transaction is subject to OFAC rules.
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