I got an interesting question today but wasn’t too sure on the answer!


Hopefully some of you can shed some light for me on this topic, or share some of your opinions, I have an economics degree with a basic understanding of CBDCs, and their differences from privatised cryptocurrency’s etc.

The question I got asked was, central banks and governments seek total control over the population, private cryptocurrencies take away some of their power, what happens if/when they release their CBDCs that they associate all private crypto’s as related to drugs/crime, holding and trading is illegal etc etc. His opinion is there will be an offer to buy all private crypto holdings as a set price in return for a set amount of the CBDc.

In what ways would this not be feasible/what is stopping governments doing this?