Brazilian MPs Warn of Drex CBDC Risks, Refuse to Repeal Cash Bill

Julia Zanatta, a member of the Brazilian Congress, has expressed concern about the impact of the implementation of digital currency (drex) on the lives of citizens. Julia Zanatta emphasized that physical money may come to an end as the country moves forward with the implementation of drex (digital currency of the national central bank). In a recent interview, Julia Zanatta explained that the use of drex should be voluntary rather than mandatory, as it could become a tool to exert control over Brazilians, and she already plans to establish multiple back-up measures to stop this from happening, helping Brazilians maintain their current economic freedom.
Julia Zanatta recently introduced a bill to counter the already introduced bill banning the use of cash in Brazil, proposing to rely solely on electronic transactions and drex. The bill, introduced in 2020, would phase out the printing of money starting in 2025.