As central banks, including the Federal Reserve, are looking into implementing their own digital currencies, a Republican lawmaker warned of a key risk associated with their adoption, namely whether they could be exploited to curb civil liberties. Nations across the world are mulling developing central bank digital currencies (CBDC) to modernize their financial systems, ward off the threat from cryptocurrencies like Bitcoin, and speed up domestic and international payments, with China one of the most advanced in its effort. Rep. Warren Davidson (R-Ohio), a member of the House Financial Services Committee, told NTD News in an interview that some of the features of China’s digital yuan arrangement would raise concerns if transposed to a digital dollar. “China’s using their monetary system as a system of control,” Davidson said. “And they’re proposing to link their central bank digital currency to their social credit system where they know virtually everything about everyone—they could …