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US digital wallets could upend commercial banking Digital wallets issued by the Fed, though, would be a destabilizing form of CBDC. "It really messes with the general pyramidal structure of central banking as a concept, which has always been that central banks are not bankers to average citizens," according to Peebles. As a rule, central bankers oversee the banking system, whereas private banks interact with the consumer. 

Sells, a law student at Arizona State University, said she's struggling with experience over change. Whoever wins, she wants to be assured they will find ways to bring the younger generation back to the reservation.

"We are certainly willing to use capital for M&A if it's something that strategically fits with what we are trying to do. And there seem to be a lot of things around right now presenting themselves as possibilities," said Baker.

The other candidates are: Greg Bigman, chairman of the Diné College Board of Regents; Ts´ah Bii Kin Chapter manager Earl Sombrero; and Dineh Benally and Kevin Cody, both of whom sought the tribal presidency in 2018.

The top two vote-getters in the Navajo primary will move on to the November general election. More than 122,000 Navajos are registered to vote, and the tribe generally sees around a 50% turnout for the primaries.

What is a central bank digital currency? It's the virtual form of a fiat currency -- that is, government-issued money that isn't backed by other commodities like gold or silver. In short, a CBDC is just the digital form of a country's official currency. As nothing more than a computer code, these currencies could be stored on central ledgers within a country's national bank or on a distributed ledger the way private cryptocurrencies like bitcoin are.

Ausley had just graduated from the University of Michigan, and returned to the South Side to work with disadvantaged young people at the Gary Comer Youth Center, which provides tutoring, job training, career planning and other programs.

FLAGSTAFF, Ariz. (AP) - Natalia Sells has a list of qualities she wants to see in the next Navajo Nation president: Approachable.
Adaptable. Inspiring. Someone who upholds traditional values but also is progressive.

Dayish is one of the only veteran politicians in the group and has work experience in the housing, mining, aeronautical, and health care industries. He ran for president in 2006 but came in third behind Lovejoy.

As governor, Haley was against the Catawbas opening a South Carolina casino. She attended the 2021 groundbreaking in North Carolina, but her office said she was only acting as her husband's guest and never advocated to get federal approval for the North Carolina site.

What factors are driving interest in CBDCs? The rise of cryptocurrencies is serving as a wake-up call to national governments, which have long held a monopoly on currency issuance. Concerns over that monopoly being threatened appear to be what's driving interest in CBDCs, according to Gustav Peebles, a professor of anthropology and an expert in monetary history, theory and policy at The New School in New York City.

Privacy concerns over CBDCs The primary concern over a government-issued digital dollar centers on privacy, particularly when it comes to the issuance of Federal Reserve accounts. The US government could track all citizens' purchases through an e-wallet, giving the Fed an account of everything we do and eliminating space for unsurveilled monetary exchange, according to Peebles. 

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Branch has been critical of what she says was the Navajo Nation's slow response to the pandemic under Nez's administration. She co-founded a relief fund, raising millions of dollars to provide food, water and other supplies to Navajo and Hopi families.

Nez recently approved legislation to spend more than $1 billion in federal pandemic relief funding to improve water, sanitation, housing and communications infrastructure where many residents live without basic necessities.
It came after months of wrangling between the tribe's executive and legislative branches about what should be prioritized.

Not only is it destabilizing, the Fed's report appears to throw shade on the idea that the Fed currently has the authority to create such accounts. Moreover, the Fed could be signaling that it's wary about expanding its current role to these proportions.

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A less destabilizing CBDC proposal wouldn't require a federal account but would involve a "cash card," that is, a card that customers of private banks could use at ATMs to load up on digital cash instead of paper money. "Just like paper money, if the holder lost that card or had their wallet stolen, the card would have value on it that anyone could use," Peebles said.