Re:We asked the SEC for reasonable crypto rules. We got lega...
by kyboren on Thursday March 23, 2023 @02:35PM
(#35279306)
> Being issued by a sovereign state would probably be a better test.
Aha, so they just need another layer of indirection.
Acting on the imprimatur of the country's central bank, programmatically issue a sovereign CBDC upon the deposit of BTC. Keep cryptographic proof of 100% BTC reserves at all times to provide ultimate credibility for your (potentially parallel) currency (so you can keep using dollars or pesos or whatever in your real economy). Allow intra-CBDC transfers for 0.1% fee and programmatic redemptions for BTC for 0.2%. Profit.
Aha, so they just need another layer of indirection.
Acting on the imprimatur of the country's central bank, programmatically issue a sovereign CBDC upon the deposit of BTC. Keep cryptographic proof of 100% BTC reserves at all times to provide ultimate credibility for your (potentially parallel) currency (so you can keep using dollars or pesos or whatever in your real economy). Allow intra-CBDC transfers for 0.1% fee and programmatic redemptions for BTC for 0.2%. Profit.
`ping -i1 www.bcr.gob.sv`...