[NEWS] Bitcoin advocate Kennedy Jr. pledges to "prevent CBDC issuance" in the US presidential election

US presidential candidate Robert F. Kennedy Jr. has pledged to block the issuance of a central bank digital currency (CBDC) in the US.

This follows the lead of former President Donald Trump, a leading Republican presidential candidate, and others. Trump stated this month that he would block the issuance of a CBDC if he were to return to the presidency, with the aim of "protecting the American people from government tyranny." Trump added that CBDCs "pose a dangerous threat to freedom."

Kennedy Jr. similarly argued that a digital dollar, equivalent to a CBDC, would "allow the government to monitor all private financial transactions."

Both US presidential candidates Kennedy Jr. and Trump are strongly opposed to the creation of a CBDC in the US. Kennedy is known to be a Bitcoin advocate and a Web 3.0 advocate.

Kennedy Jr. said on his Twitter account last week that "as president, I will end efforts toward a CBDC."

On the other hand, Kennedy Jr. stated in October last year that if elected president, "Bitcoin (BTC) will be protected, people will be able to have their own wallets, the current White House war on Bitcoin will end, and transactions will be secure."

Kennedy Jr. has previously stated that "crypto assets (virtual currencies) like Bitcoin serve as an escape route for inflation and any crisis," but that "we should be wary of CBDC because it is the ultimate mechanism for social surveillance and control."

He also took a negative stance, saying, "Cash transactions are anonymous, but CBDC will allow the government to monitor all of our private financial affairs. Central banks will have the power to restrict our transactions, restrict where we can send money, where we can spend dollars, and even their expiration date."

Negative views of CBDCs are spreading in the United States

Trump also claims that the realization of CBDC will "give the government absolute control over your money." In response to Trump's remarks, Republican Congressman Tom Emmer said, "I look forward to working with Trump to stop the creation of CBDC."

In the United States, negative opinions about CBDCs are becoming more prominent, and the Federal Reserve System (FRB) also seems to be still reluctant to issue one.

Fed Chairman Jerome Powell said in September last year that the digital dollar was under consideration and that a decision would take "at least a few years."

Reference:Kennedy X
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