• About Us
  • Careers
  • Contact
No Result
View All Result
Thursday, October 2, 2025
DeFi Planet
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Market Analysis
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverse
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Market Analysis
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverse
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
No Result
View All Result
DeFi Planet
No Result
View All Result

Idaho Republicans Pushes ‘Sound Currency’ Proposal Supporting Bitcoin, Rejects CBDCs

18 June 2024
in CBDC, News
Reading Time: 3 mins read
107 2
Home Explore CBDC

Members of the Republican Party in the U.S. State of Idaho have declared a stance in favour of Bitcoin and against the establishment of Central Bank Digital Currencies (CBDCs).

As per a social media post by Niklas Klienworth, policy director of Idaho Reform Foundation, the party has put forth a policy proposal titled ‘Sound Currency.’ The proposal, championed by Colton Bennett, a Republican Candidate for the State’s House of Representatives, argues that decentralized digital currencies like Bitcoin present a viable alternative to traditional fiat currencies, which are susceptible to inflation and other economic vulnerabilities. The proposal particularly underscores Bitcoin as a hedge against inflation and a pathway to greater financial autonomy for individuals.

The proposal also criticized the Federal Reserve Bank for failing to maintain a stable U.S. dollar and called for its abolition. It suggested restoring the power of currency issuance to the people, advocating for the U.S. dollar to be backed by gold, silver, or other tangible assets.

The policy proposal also opposes the issuance of Central Bank Digital Currencies (CBDCs) in the U.S., arguing that they could lead to excessive regulation and undermining financial freedom.

Notably, this move by the Idaho Republicans is an important development in the ongoing discourse surrounding digital currencies, especially CBDCs, in the United States.

They echo Congressman Warren Davidson’s stance. Davidson is a vocal critic of CBDCs who views them as a potential threat to financial autonomy and Western civilization. Davidson recently argued that CBDCs could transform money into a tool for government coercion and control and likened the Federal Reserve’s efforts on CBDCs to building a “financial Death Star.” 

Meanwhile, Federal Reserve Chair Jerome Powell has noted that while a U.S. CBDC could improve the payment system, the country is not “remotely close” to launching one anytime soon.

On the other hand, many countries and regions around the world have begun to explore CBDCs. While some have rejected the idea, others, like China, have made significant advances with the new financial technology.

 

If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.

“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”

Don't miss out!

Subscribe To Our Newsletter

Receive top education news, lesson ideas, teaching tips and more!
Invalid email address
Give it a try. You can unsubscribe at any time.
Thanks for subscribing!
Tags: BitcoinIdahoU.S. Republican Party
Share63Tweet40Share11
Previous Post

Chief of SEC’s Crypto Enforcement Division, David Hirsch, Resigns After Nearly a Decade of Service

Next Post

Taiwan Prosecutors Charge Man Betting on Presidential Election Outcomes via Crypto Platform Polymarket

Anuoluwapo Obisesan

Anuoluwapo Obisesan

Experienced in crafting clear, user-friendly documentation and compelling news reports. Passionate about technology and delivering impactful content. Collaborative team player dedicated to accuracy and clarity. When not writing, you'll find me hunkering down with a good book.

Related Posts

source: tokenterminal.com
Crypto

Avalanche Treasury Co. to Go Public, Plans $1B AVAX Purchase

2 October 2025
source: bitcoinist.com
Bitcoin

Bitcoin Consolidates as Exchange Reserves Fall, Supply Tightens

2 October 2025
source: news.bitcoin.com
Crypto

Crypto exchange Bullish launches U.S. spot trading in 20 states after securing NYDFS licenses, targeting institutional and advanced traders.

2 October 2025
source: news-journal.com
Crypto

Eddid ONE Becomes First in Hong Kong to Offer Tokenized RWA Subscription and Redemption

2 October 2025

Editors Picks

Mining vs. Staking: Which Crypto Validation Method Will Shape the Future?

Mining vs. Staking: Which Crypto Validation Method Will Shape the Future?

byOlajumoke Oyaleke
15 July 2025
0

Where Are the Ethereum-Killers Now?

Where Are the Ethereum-Killers Now?

byOlayinka Sodiqand1 others
6 January 2025
0

source: investorplace.com

How to Find the Newest Cryptocurrencies Before They’re Listed

byOlayinka Sodiq
30 December 2024
0

Exploring the Role of AI in Enhancing DeFi Security

Exploring the Role of AI in Enhancing DeFi Security

byOlayinka Sodiq
1 October 2024
0

The Ultimate Guide to How NFT Royalties Work

The Ultimate Guide to How NFT Royalties Work

byAdedamola Ojedokun
17 April 2024
0

Read More

Chain of Thoughts

The Aesthetics of Web3: Why Vibe Matters in Decentralized Communities

The Aesthetics of Web3: Why Vibe Matters in Decentralized Communities

byOlu Omoyele
27 September 2025
0

...

Zero-Knowledge Everything: Trust, Privacy, and Verification in the Digital Age

Zero-Knowledge Everything: Trust, Privacy, and Verification in the Digital Age

byOlu Omoyele
30 August 2025
0

...

What Happens When AI Gets a Wallet?

What Happens When AI Gets a Wallet?

byOlu Omoyele
31 July 2025
0

...

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

byOlu Omoyele
30 June 2025
0

...

Markets Update

What $1 Billion in Liquidations Means for Market Stability

23 hours ago

Why Crypto’s Cross-Chain Future Depends on Regulatory Readiness

1 day ago

MicroStrategy’s Debt-Fueled Bitcoin Buys: Smart Treasury Move or Dangerous Precedent?

1 day ago

XRP Reserves Spiked by 1.2B: What Does This Mean for Market Adoption?

1 day ago

Is Crypto Adoption Strongest Where Fiat Is Weakest?

2 days ago

How Did Hyperliquid Scale to $330B Trading Volume with Only 11 Staff?

2 days ago
Read More

Events

Blockchain Life 2025
Blockchain Life 2025
28 Oct 25

Spotlight

All about Ethereum
All about Algorand
All about Bitcoin
All about Gora

Press Releases

Psy Protocol Testnet Combines Internet Scale and Speed with Bitcoin-Level Security

bychainwire
2 October 2025
0

Eightco Holdings Inc. ($ORBS) Expands Investor Access with Options Trading

bychainwire
2 October 2025
0

Codego Launches Whitelabel Devices Bringing Tokens Into Daily Life

bychainwire
2 October 2025
0

Solo Leveling Levels Up: Korean Billion-Dollar Megafranchise Goes Onchain with Story

bychainwire
1 October 2025
0

SimpleFX Relaunches First Deposit Bonus

bychainwire
1 October 2025
0

Read More

ADVERTISING

ABOUT

TEAM

CAREERS

CONTACT

TERMS & CONDITIONS

PRIVACY POLICY

© Copyright 2025 DeFi Planet

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.

Add New Playlist

No Result
View All Result
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Market Analysis
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverse
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer

© Copyright 2024 DeFi Planet   |   Terms & Conditions   |   Privacy Policy

-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00