First Mover Asia: China CBDC Is No Government Version of Bitcoin; Terra's Luna, Other Altcoins Jump

that you can peruse to find Russian officials and oligarchs, Iranian hackers and Hong Kong’s leader Carrie Lam.

Bitcoin and other cryptocurrencies use a decentralized ledger but CBDCs are a digital version of cash issued on a digital ledger. CBDC’s digital ledger is similar to a permissioned blockchain, which is likely where the erroneous comparison originates. During last year’s CoinDesk Consensus conference, Yaya Fanusie, a Fellow at the Center for a New American Security, and former CIA counterterrorism financing analyst, highlighted that China’s CBDC efforts were all about controldisappearance in-country over its support for a measure to remove Xinjiang Cotton from its supply chain.

The truckers’ evasion of government sanctions by using crypto shows that bitcoin has nothing to do with CBDCs. You can’t ‘’cancel’’ a bitcoin transaction like you can with a CBDC, and the only thing you can freeze are the fiat ramps in Canada.

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