George Mason University professor: Central bank digital currency can be seen as government response to creating private currency without single control

According to AMBCrypto, George Mason University professor Larry White said in a podcast that offshore banking has always been a free banking business within the financial system and is relatively unregulated. The government is concerned that encryption will make it possible for certain offshore banks with relatively less taxation and regulation. In a way, the central bank's digital currency (CBDC) can be seen as the government's response to the creation of a private currency without single control. At the same time, the advent of crypto technology has made entrepreneurs realize that they can compete with the government in the financial field.