Brazilian congresswoman Julia Zanatta has expressed concerns over the impact of implementing Brazil's central bank digital currency (CBDC), known as drex, on citizens' lives. Zanatta is worried that if drex is not properly implemented, it could lead to the prohibition of physical money. She has proposed a ballot for the final implementation of drex and has presented a bill to fight against a previously introduced bill that aims to phase out cash usage in Brazil. Zanatta believes that drex usage should be voluntary and not mandatory, as it may become a tool for exerting control over individuals. She also highlights the risks of relying solely on electronic transactions, including lack of privacy and potential political persecution. Zanatta intends to involve the citizens in the decision-making process by proposing a general ballot to determine the future of drex. The pilot phase of drex is currently facing delays due to privacy concerns.



Other News from Today