Brazilian Congressman Warns of Drex CBDC Risks, Rejects Cash Abolition Bill

Brazilian congresswoman Julia Zanatta is concerned about the impact of the implemented digital currency (drex) on citizens' lives. Julia Zanatta emphasized that the use of drex (the national central bank digital currency) could lead to the end of physical currency as the country progresses towards implementing it. In a recent interview, Julia Zanatta explained that the use of drex should be voluntary rather than mandatory, as it could become a tool for controlling Brazilians. She has planned multiple backup measures to prevent this from happening and to help Brazilians maintain their current economic freedom.

Julia Zanatta recently proposed a bill to counter the already introduced law banning the use of cash in Brazil, suggesting reliance only on electronic transactions and drex. The bill was proposed in 2020 and will gradually phase out printing money starting from 2025.