The US Justice Department (DOJ) seized more than $200,000 in cryptocurrency intended to benefit the militant group Hamas, it said in a statement on March 27.

The cryptocurrency, with a total value of $201,400, was traced to fundraising addresses allegedly controlled by Hamas and used to launder more than $1.5 million in digital assets since October 2024.

The laundering occurred through a series of “virtual currency exchanges and transactions by leveraging suspected financiers and over-the-counter brokers,” the DOJ said. The funds are currently held in a combination of at least 17 wallets.

Affidavit to seize the Hamas-linked cryptocurrency. Source: US DOJ

In January 2024, the US Treasury’s Office of Foreign Assets Control, along with corresponding organizations in the United Kingdom and Australia, announced sanctions against networks and facilitators of crypto transactions linked to Hamas. Those sanctions were built on US Treasury sanctions from October 2023.

In January 2024, three families of victims of the Hamas attack against Israel sued Binance and its former CEO Changpeng Zhao, alleging that the exchange had provided “substantial assistance” to terrorists. In oral arguments, a lawyer representing Binance claimed the exchange had “no special relationship [with] Hamas […].”

Binance has faced scrutiny from the US government over alleged shortcomings in its Anti-Money Laundering controls. The exchange settled with the DOJ for $4.3 billion in November 2023.

More regulation needed?

According to a December 2024 report by the Congressional Research Service, Hamas has allegedly sought cryptocurrency donations since at least 2019, although the “scale and effectiveness” of these efforts have been unclear.

Terrorist organizations using crypto for fundraising have increasingly drawn the attention of the US, with some officials questioning whether the industry needed more supervision or regulation to stop such behavior.

According to a 2023 Chainalysis report, terrorism financing accounts for a very small amount of crypto usage, with illegal groups sticking to using traditional, fiat-based methods to fund operations.

Magazine: Terrorism and the Israel-Gaza war have been weaponized to destroy crypto

The current state of crypto is akin to the internet’s “America Online” (AOL) era during the late 1990s, when the user experience was clunky, technical, featured limited use cases, and moved at dial-up speeds, according to Polygon co-founder Sandeep Nailwal.

In an interview with Cointelegraph, Nailwal identified several key areas of development to improve user experience, including seamless fiat on- and off-ramps, custody solutions that feature key recovery, and hardware wallets built into mobile devices.

“We are in the dial-up era of the internet where even connecting to the Internet was a tedious task, like you had to be a mini-engineer to be able to connect to the Internet — we are still there in crypto.”

“We are probably still in 1998, and it is going to take at least 10 to 15 years to see crypto in its full glory,” the Polygon founder added.

While considered revolutionary at the time, the AOL days of the internet featured limited functionality and a high barrier to entry. Source: PC Magazine

The internet took between 30-40 years to achieve mass adoption and began with a limited number of use cases. In the late 1990s, the AOL era of the internet was primarily focused on email and basic web browsing, but today, the internet encompasses the entire economy.

Nailwal said that the current state of crypto is similar, with financial use cases, particularly market speculation, being the core focus of crypto at this time.

However, once the financial use cases have been fully developed and achieved sufficient adoption, crypto adoption will spread to alternative use cases such as decentralized social media, gaming, and other niche sectors, he said.

Related: Security concerns slow crypto payment adoption worldwide — Survey

Being in crypto today is being early to the party

Nailwal pointed out that even the base use case for cryptocurrencies, which is financial, has not been fully developed.

According to a February 2025 report from Bitcoin (BTC) financial services company River, only 4% of individuals worldwide own BTC — which is the original cryptocurrency with the largest market cap and has the most mainstream appeal.

Bitcoin’s adoption path. Source: River

The report found that BTC has only achieved about 3% of its total adoption path when institutions, the total addressable market, and proper portfolio allocations are considered.

This small number of BTC holders indicates that crypto mass adoption is still years away and signals that the entire industry is still in the early adopter phase of development.

Magazine: They solved crypto’s janky UX problem — you just haven’t noticed yet

The foundation behind the layer-1 blockchain, Sei, announced it was exploring the acquisition of the genetic testing company 23andMe after the firm filed for bankruptcy.

In a March 27 X post, the Sei network said its foundation was considering purchasing 23andMe “to defend the genetic privacy of 15 million Americans” by putting the company’s data on the blockchain.

According to the foundation, if it acquires the biotechnology company, it plans to deploy all the genetic information on the blockchain and “return data ownership to users through encrypted, confidential transfers.” 

March 27 X announcing a potential acquisition of 23andMe. Source: Sei Network

“We believe user data sovereignty is a matter of national security,” the Sei network’s announcement reads. “When an American biotech pioneer faces bankruptcy, personal genomic data of millions becomes vulnerable to parties that may not share the same values of transparency and open access.”

The announcement came four days after 23andMe said it filed for Chapter 11 protection in the US Bankruptcy Court for the Eastern District of Missouri. The company said at the time there would be “no changes to the way [it] stores, manages, or protects customer data,” which reportedly includes genetic information from roughly 15 million people globally.

Related: Stop giving your DNA data away for free to 23andMe, says Genomes.io CEO

The 23andMe bankruptcy has, for many, reignited concerns about data privacy in an age in which companies have caches of genetic information from millions of people. 

After the bankruptcy announcement, New York State Attorney General Letitia James and California Attorney General Rob Bonta urged 23andMe users to contact the company to delete their personal data, saying they had a right to privacy and to request any DNA samples be destroyed. The two authorities said state laws gave 23andMe users control of their own data. 

The price of the network’s Sei (SEI) token briefly rose from $0.209 to $0.215 after the network’s X post — a roughly 3% increase.

Magazine: Longevity expert: AI will help us become ‘biologically immortal’ from 2030

Solana’s native token, SOL (SOL), faced a sharp 8% rejection after briefly touching $147 on March 25. For the past three weeks, SOL has struggled to reclaim the $150 level, which is leading traders to question whether the bullish momentum that was originally driven by memecoin speculation and the rise of artificial intelligence sectors has come to an end.

Some analysts argue that SOL price could significantly benefit from the eventual approval of a Solana spot exchange-traded fund (ETF) in the United States, as well as the expansion of tokenized real-world assets (RWA) on the Solana network, including stablecoins and money market funds. 

Others, like Nikita Bier, co-founder of TBH and Gas startups, believe Solana has “the fundamental building blocks for something to break out on mobile.”

Source: nikitabier

Bier highlighted the constructive regulatory environment from US President Donald Trump and the long-term impact of the memecoin frenzy, which introduced “millions” of new users to Web3 wallets and decentralized applications (DApps). Essentially, Nikita Bier believes Solana is well-positioned due to its streamlined onboarding experience for mobile users.

The lackluster Bitcoin reserve announcement hurt all cryptocurrencies

Despite the potential for establishing a “consumer-grade” marketplace for DApps, most traders suffered losses as the memecoin mania faded and onchain volumes plunged. This decline has led investors to question whether SOL has the strength to reclaim levels above $150. Beyond the waning interest in DApps, Solana is also facing growing competition from other blockchains.

Additionally, the realization that the US government would not purchase altcoins for its strategic reserve and digital asset stockpile was a major disappointment for some investors.

On March 6, President Trump signed a bill allowing budget-neutral strategies for the US Treasury to acquire Bitcoin (BTC), while altcoins in government possession could be strategically sold. In fact, there was no explicit mention of Solana or any other altcoin in the Digital Asset Stockpile executive order.

Some may argue that the Solana ecosystem extends far beyond memecoin trading and token launchpads, as total value locked (TVL) has grown across liquid staking, collateralized lending, synthetic assets, and yield platforms.

However, Solana’s fees and DApp revenues have continued to decline. Reduced onchain activity reduces SOL’s appeal to investors, thus limiting its upside potential.

Solana 7-day DApp revenues (left) and chain fees (right), USD. Source: DefiLlama

Solana DApp revenues totaled $12 million in the seven days leading up to March 24, down from $23.7 million just two weeks earlier. Similarly, base layer fees reached $3.6 million in the same period, a sharp drop from $6.6 million in the seven days ending March 10. Interestingly, this decline occurred while the total value locked (TVL) remained stable at 53.2 million SOL.

Related: Specialized purpose DEXs poised for growth in 2025 — Curve founder

Solana is no longer the dominant network in DEX volumes

The drop in Solana’s onchain activity is particularly concerning given that BNB Chain surged to the top spot in DEX volumes, despite having 34% less TVL than Solana, according to DefiLlama data.

Decentralized exchanges volume market share. Source: DefiLlama

In terms of volume, Solana dominated the DEX industry from October 2024 to February 2025 but has recently lost ground to Ethereum and BNB Chain. As a result, part of SOL’s price weakness stems from a decline in Solana’s onchain activity compared to its competitors. For instance, trading volume on Hyperliquid increased by 35% over the past seven days, while activity on Pendle surged by an impressive 186%.

Although fundamentals do not indicate an imminent rally above $150, the Solana network uniquely combines an integrated user experience with a degree of decentralization that has proven successful. For example, while BNB Chain and Tron offer similar scalability, neither has had a wallet or DApp rank among the top 10 on the Apple App Store—unlike Solana’s Phantom Wallet in November 2024.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Bitcoin (BTC) investors are preparing for the record-breaking $16.5 billion monthly options expiry on March 28. However, the actual market impact is expected to be more limited, as BTC’s drop below $90,000 caught investors off guard and invalidated many bullish positions. 

This shift gives Bitcoin bears a crucial opportunity to escape a potential $3 billion loss, a factor that could significantly influence market dynamics in the coming weeks.

Bitcoin options open interest for March 28, USD. Source: Laevitas.ch

Currently, the total open interest for call (buy) options stands at $10.5 billion, while put (sell) options lag at $6 billion. However, $7.6 billion of these calls are set at $92,000 or higher, meaning Bitcoin would need a 6.4% gain from its current price to make them viable by the March 28 expiry. As a result, the advantage for bullish bets has significantly weakened.

Bitcoin bulls pray for a “decoupling” if QE restarts 

Some analysts attribute Bitcoin’s weak performance to the ongoing global tariff war and US government spending cuts, which increase the risk of an economic recession. Traders worry about slower growth, particularly in the artificial intelligence sector, which had driven the S&P 500 to a record high on Feb. 19 before falling 7%.

S&P 500 futures (left) vs. Bitcoin/USD (right). Source: TradingView / Cointelegraph

Meanwhile, Bitcoin bulls remain hopeful for a decoupling from the stock market, despite the 40-day correlation staying above 70% since early March. Their optimism stems from the expansion of the monetary base by central banks and increased Bitcoin adoption by companies such as GameStop (GME), Rumble (RUM), Metaplanet (TYO:3350), and Semler Scientific (SMLR).

As the options expiry date nears, bulls and bears each have a strong incentive to influence Bitcoin’s spot price. However, while bullish investors aim for levels above $92,000, their optimism alone is not enough to ensure BTC surpasses this mark. Deribit leads the options market with a 74% share, followed by the Chicago Mercantile Exchange (CME) at 8.5% and Binance at 8%.

Given the current market dynamics, Bitcoin bulls hold a strategic advantage heading into the monthly options expiry. For instance, if Bitcoin remains at $86,500 by 8:00 am UTC on March 28, only $2 billion worth of put (sell) options will be in play. This situation incentivizes bears to drive Bitcoin below $84,000, which would increase the value of active put options to $2.6 billion.

Related: Would GameStop buying Bitcoin help BTC price hit $200K?

Bitcoin bulls will have the edge if BTC price passes $90,000

Below are five probable scenarios based on current price trends. These outcomes estimate theoretical profits based on open interest imbalances but exclude complex strategies, such as selling put options to gain upside price exposure.

Between $81,000 and $85,000: $2.7 billion in calls (buy) vs. $2.6 billion in puts (sell). The net result favors the call instruments by $100 million.

Between $85,000 and $88,000: $3.3 billion calls vs. $2 billion puts, favoring calls by $1.3 billion.

Between $88,000 and $90,000: $3.4 billion calls vs. $1.8 billion puts. favoring calls by $1.6 billion.

Between $90,000 and $92,000: $4.4 billion calls vs. $1.4 billion puts, favoring calls by $3 billion.

To minimize losses, bears must push Bitcoin below $84,000—a 3% drop—before the March 28 expiry. This move would increase the value of put (sell) options, strengthening their position. 

Conversely, bulls can maximize their gains by driving BTC above $90,000, which could create enough momentum to establish a bullish trend for April, especially if inflows into spot Bitcoin exchange-traded funds (ETFs) resume at a strong pace.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

GameStop shed nearly $3 billion in market capitalization on March 27 as investors second-guessed the videogame retailer’s plans to stockpile Bitcoin (BTC), according to data from Google Finance. 

On March 26, GameStop tipped plans to use proceeds from a $1.3 billion convertible debt offering to buy Bitcoin — an increasingly popular strategy for public companies looking to boost share performance. 

GameStop’s announcement came a day after it proposed building a stockpile of cryptocurrencies, including Bitcoin and US dollar-pegged stablecoins. 

Investors initially celebrated the news, sending shares up 12% on March 26. Shareholders’ sentiment reversed on March 27, pushing GameStop’s stock, GME, down by nearly 24%, according to Google Finance. 

GameStop’s stock reversed gains on March 27. Source: Google Finance

Related: GameStop buying Bitcoin would ‘bake the noodles’ of TradFi: Swan exec

Chilly reception

Analysts say the chilly reception reflects fears GameStop may be seeking to distract investors from deeper problems with its business model. 

“Investors are not necessarily optimistic on the underlying business,” Bret Kenwell, US investment analyst at eToro, told Reuters on March 27. 

“There are question marks with GameStop’s model. If bitcoin is going to be the pivot, where does that leave everything else?”

The sell-off also highlights investors’ more bearish outlook on Bitcoin as macroeconomic instability, including ongoing trade wars, weighs on the cryptocurrency’s spot price. 

Bitcoin is down around 7% year-to-date, hovering around $87,000 as of March 27, according to Google Finance.

Bitcoin’s “price briefly jumped to $89,000 but has now reversed its trend,” Agne Linge, decentralized finance (DeFi) protocol WeFi’s head of growth, told Cointelegraph.

Linge added that trade wars triggered by US President Donald Trump’s tariffs remain a concern for traders.

Public companies are among the largest Bitcoin holders. Source: BitcoinTreasuries.NET

Corporate Bitcoin treasuries

GameStop is a relative latecomer among public companies creating Bitcoin treasuries.

In 2024, rising Bitcoin prices sent shares of Strategy soaring more than 350%, according to data from FinanceCharts. 

Founded by Michael Saylor, Strategy has spent more than $30 billion buying BTC since pioneering corporate Bitcoin accumulation in 2020, according to data from BitcoinTreasuries.NET.NET. 

Strategy’s success prompted dozens of other companies to build Bitcoin treasuries of their own. Public companies collectively hold nearly $58 billion of Bitcoin as of March 27, the data shows. 

Magazine: SEC’s U-turn on crypto leaves key questions unanswered

US Senator John Kennedy grilled prospective Securities and Exchange Commission (SEC) chairman Paul Atkins about a potential pardon for Sam “SBF” Bankman-Fried during the Senate Banking Committee’s March 27 nomination hearing.

The Louisiana Republican directed a series of questions about the former FTX CEO toward Atkins and probed the prospective SEC chairman about donations Bankman-Fried’s family made to Stanford University.

Senator John Kennedy questions prospective SEC chairman Paul Atkins. Source: Senate Banking Committee

Kennedy then urged the SEC to take action to prevent any potential pardons on behalf of SBF. Kennedy added:

“There should not be two standards of law and punishment for people in America. And every time you come to this committee, I am going to pounce on you like a ninja to find out what the SEC has done because I don’t think the SEC has done a damn thing.”

“I read in the paper that the Bankman-Frieds were trying to get a pardon. They are crooks, and I expect the SEC to do something about it,” the Senator continued.

Reports emerged in January that SBF’s parents, Joseph Bankman and Barbara Fried, were seeking a pardon for their son from recently-elected US President Donald Trump following his high-profile pardon of Silk Road founder Ross Ulbricht.

Paul Atkins answers questions at his nomination hearing. Source: Senate Banking Committee

Related: Ex-FTX CEO moved to transit facility after interview

Presidential pardon “unlikely” for SBF

SBF is unlikely to secure a pardon for several reasons that differentiate the case from that of the Silk Road founder, according to White Collar Support Group executive director William Livolsi.

In the case of Ulbricht, the charges were victimless crimes tied to the operation of a contraband marketplace as opposed to causing billions in investor losses.

Livolsi added that the sentence imposed on Ulbricht of two lifetimes behind bars plus an additional 40 years without the possibility of parole and the public campaign promise made by then-candidate Trump to pardon Ulbricht set the situation apart.

Tucker Carlson interviews SBF from prison. Source: Tucker Carlson

Despite this, SBF has attempted to cozy up to Republicans in several interviews with independent media outlets, including a February interview with The New York Sun and an interview with Tucker Carlson earlier this month.

The Carlson interview was not sanctioned by prison authorities, leading to SBF being thrown into solitary confinement following the interview and moved from a prison facility located in New York to Oklahoma.

Magazine: Legal issues surround the FBI’s creation of fake crypto tokens

US Senator John Kennedy grilled prospective Securities and Exchange Commission (SEC) chairman Paul Atkins about a potential pardon for Sam “SBF” Bankman-Fried during the Senate Banking Committee’s March 27 nomination hearing.

The Louisiana Republican directed a series of questions about the former FTX CEO toward Atkins and probed the prospective SEC chairman about donations Bankman-Fried’s family made to Stanford University.

Senator John Kennedy questions prospective SEC chairman Paul Atkins. Source: Senate Banking Committee

Kennedy then urged the SEC to take action to prevent any potential pardons on behalf of SBF. Kennedy added:

“There should not be two standards of law and punishment for people in America. And every time you come to this committee, I am going to pounce on you like a ninja to find out what the SEC has done because I don’t think the SEC has done a damn thing.”

“I read in the paper that the Bankman-Frieds were trying to get a pardon. They are crooks, and I expect the SEC to do something about it,” the Senator continued.

Reports emerged in January that SBF’s parents, Joseph Bankman and Barbara Fried, were seeking a pardon for their son from recently-elected US President Donald Trump following his high-profile pardon of Silk Road founder Ross Ulbricht.

Paul Atkins answers questions at his nomination hearing. Source: Senate Banking Committee

Related: Ex-FTX CEO moved to transit facility after interview

Presidential pardon “unlikely” for SBF

SBF is unlikely to secure a pardon for several reasons that differentiate the case from that of the Silk Road founder, according to White Collar Support Group executive director William Livolsi.

In the case of Ulbricht, the charges were victimless crimes tied to the operation of a contraband marketplace as opposed to causing billions in investor losses.

Livolsi added that the sentence imposed on Ulbricht of two lifetimes behind bars plus an additional 40 years without the possibility of parole and the public campaign promise made by then-candidate Trump to pardon Ulbricht set the situation apart.

Tucker Carlson interviews SBF from prison. Source: Tucker Carlson

Despite this, SBF has attempted to cozy up to Republicans in several interviews with independent media outlets, including a February interview with The New York Sun and an interview with Tucker Carlson on March 2025.

The Carlson interview was not sanctioned by prison authorities, leading to SBF being thrown into solitary confinement following the interview and moved from a prison facility located in New York to Oklahoma.

Magazine: Legal issues surround the FBI’s creation of fake crypto tokens

Since reaching a weekly high of $88,752 on March 24, Bitcoin (BTC) price has formed a series of lower highs and lower lows in the 1-hour time frame chart.

As the end of the week approaches, Bitcoin price has failed to break above the $88,000 resistance, reducing the chance for a $90,000 retest before the end of Q1.

Bitcoin 1-hour chart. Source: Cointelegraph/TradingView

What is keeping Bitcoin under $90K?

One major reason for Bitcoin’s current price struggles is constant sell-side pressure from short-term holders (STHs) or investors holding coins for less than 155 days. Glassnode’s “The Week On-chain” newsletter noted that the current Bitcoin cycle has witnessed a “top heavy” market where investors who purchased BTC at higher prices hold a significant portion of Bitcoin’s supply. As a result, the STH cohort have become the primary group facing the largest price drawdown since Bitcoin’s 30% correction from its all-time high.

In the report, Glassnode analysts said,

“Volume of Short-Term Holder supply held in loss surging to a massive 3.4M BTC. This is the largest volume of STH supply in loss since July 2018.”

Bitcoin total supply in loss held by STHs. Source: Glassnode

The selling pressure faced by the short-term holders is reflected in Bitcoin’s accumulation trend score.

Bitcoin’s accumulation trend score, a metric that quantifies selling pressure, remained below 0.1 since BTC price dropped from $108,000 to the $93,000-$97,000 range. A score under 0.5 signals distribution (selling) instead of accumulation, and a sub-0.1 value highlights intense selling pressure.

Another reason Bitcoin has struggled to break through the $90,000 threshold is due to the contraction of liquidity conditions. Data suggests that onchain transfer volumes have dropped to $5.2 billion daily, a steep 47% decline from the peak during the rally to all-time highs. Similarly, the active address count has also decreased by 18%, dropping from 950,000 in November 2024 to 780,000.

At the same time, the open interest (OI) in the BTC futures market dropped 24% from $71.85 billion to $54.65 billion, with the perpetual futures funding rates also cooling down.

This deleveraging and liquidity contraction—combined with only 2.5% of the total supply moving in profit during the correction—limits the market’s capacity to rally past $90k since there are insufficient buy orders to absorb sell orders.

Related: Bitcoin price prediction markets bet BTC won’t go higher than $138K in 2025

New demand for Bitcoin continues to fall

Glassnode data also highlighted that the current BTC bull cycle lacks new demand (buyers) entering the market, with the Cost Basis Distribution (CBD) Heatmap showing supply concentration at higher price levels ($100K-$108K) but no significant influx of buyers at lower levels to drive a price recovery.

Bitcoin Euphoria Zone, Top Buyer Cost Basis. Source: Glassnode

The lack of demand factor is compounded by macroeconomic uncertainty, which has discouraged new investors, as seen in the transition to net capital outflows when the 1-week to 1-month STH cost basis fell below the 1-month to 3-month cost basis.

However, Glassnode analysts said,

“The flip side of these observations is that the Long-Term Holder cohort still retains a substantial portion of the network wealth, holding almost 40% of invested value.”

Essentially, these periods of prolonged accumulation can eventually constrict the supply and lead to better conditions for a new wave of demand once a stronger uptrend is established in the market.

Related: Would GameStop buying Bitcoin help BTC price hit $200K?

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

US Senator Ted Cruz introduced a bill on March 26 to prohibit the Federal Reserve from issuing a central bank digital currency (CBDC). The “Anti-CBDC Surveillance State Act,” would prohibit the Fed from offering certain products or services directly to American individuals, a key component of any CBDC.

The Texas Republican’s bill can be considered a companion bill to Minnesota Republican Representative Tom Emmer’s anti-CBDC legislation, which was reintroduced on March 6. A companion bill is a piece of legislation that is similarly or identically worded to another bill and introduced in the other chamber of Congress.

Both bills state that the prohibition should not include any dollar-denominated currency that is open, permissionless, and private and “preserves the privacy protections of United States coins and physical currency.” 

Sen. Ted Cruz’s anti-CBDC bill. Source: Ted Cruz

Since 2020, the Federal Reserve has been exploring a digital version of the US dollar. According to the CBDC Tracker, at least four research projects are currently underway by various Federal Reserve entities.

Cruz has been a vocal opponent of CBDCs since at least 2022 when he introduced legislation that would ban the Fed from introducing a direct-to-consumer CBDC. He followed it up with similar legislation in 2023 and, in 2024, sought to block the attempt by then-President Joe Biden’s administration to create a CBDC.

Emmer said at a congressional hearing that “CBDC technology is inherently un-American” and warned that allowing unelected bureaucrats to issue a CBDC “could upend the American way of life.”

Related: North Carolina Senate overrides governor veto, passes bill banning CBDC

Critics denounce CBDCs

While CBDCs have some purported benefits, critics of the technology have long said that digital currency issued directly to citizens could pose privacy infringement and government overreach.

However, some nations and regional governments are still exploring this technology. While European consumers show little interest in CBDCs, lawmakers in the region are pushing to create a digital Euro. Israel has released a preliminary design to create a digital shekel, and Iran will reportedly launch a CBDC in the near future.

In the US, the creation of a CBDC has been met with more resistance. President Donald Trump has vowed to “never allow” a CBDC in the country, and Jerome Powell, the chair of the Federal Reserve, has said that the Fed will not issue a CBDC while he is in charge.

Though CBDCs could modernize legacy financial systems and make them more efficient, they would also centralize the money supply.

Magazine: Asia Express: India mulls new crypto ban to support CBDC, Lazarus Group strikes again