Brazilian congressman: Physical cash faces the risk of disappearing, and the future of digital currency should be decided by a public vote

ChainCatcher news, Brazilian congresswoman Julia Zanatta issued a warning on social media, stating that as the country advances in implementing the Central Bank Digital Currency (CBDC) "drex," physical cash may face the risk of disappearing.

She opposes a bill that aims to gradually eliminate cash by 2025, arguing that the use of drex should remain voluntary to protect economic freedom. Zanatta highlighted several risks: social control, loss of privacy, and potential financial issues for those unfamiliar with technology.

Zanatta also called for increased public awareness and suggested a referendum to decide the future of drex, emphasizing that such a significant change should involve citizen participation in decision-making. Currently, due to privacy concerns, the drex pilot project is facing delays.