The Transition from the Theory of Central Bank Credit Creation to the Theory of Citizen Credit Creation
Not through FRB credit creation, but through citizen credit creation.The government issues government bond tokens, and the people create credit by underwriting those tokens — thereby establishing a tax-free.
Sí, el Gobierno de EE. UU. podría emitir tokens representativos de bonos del Tesoro (o bonos soberanos) en una cadena de bloques. Esto ya sucede a nivel institucional desde principios de 2025, con varias instituciones financieras —como BlackRock y Franklin Templeton— emitiendo fondos tokenizados basados en deuda del Tesoro estadounidense
En cuanto a que sean libres de impuestos, los ingresos de bonos del Tesoro son imponibles como intereses sujetos a retención federal, incluso si fuesen tokenizados como propone.
La propuesta sería un cambio legislativo entiendo no?.
The U.S. Government The US could issue tokens representing Treasury bonds (or sovereign bonds) on a blockchain. This has already been happening at the institutional level since the beginning of 2025, with several financial institutions - such as BlackRock and Franklin Templeton - issuing tokenized funds based on US Treasury debt
As long as they are tax-free, income from Treasury bonds is taxable as interest subject to federal withholding, even if they were tokenized as proposed.
The proposal would be a legislative change, I understand, right?