Reserve

Chair

Bitcoin

Read

<div class="cryptonews">
 <p class="is-style-lead">After Donald Trump, U.S. presidential <a rel="noopener noreferrer nofollow" title="candidate" href="https://thebittimes.com/tag/candidate.html">candidate</a> Robert F. Kennedy Jr has expressed his firm stance against CBDCs.</p>
 <p>Robert F. Kennedy Jr., a prominent figure in the U.S. presidential race, has expressed strong opposition to the development of a central bank digital currency (CBDC) in the US. In a one-minute video posted on X, Kennedy, following his discussion with Dr. Joseph Mercola, emphasized the risks associated with a CBDC.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr">Dr. Joseph @Mercola and I discuss financial freedom in the 21st century. As president, I will end the efforts to move toward a CBDC. #Kennedy24 pic.twitter.com/gao3D1HAeM</p>— Robert F. Kennedy Jr (@RobertKennedyJr) January 24, 2024
   </blockquote>
  </div>
 </figure>
 <p>He claimed that such a currency would enable the government to monitor every transaction a citizen makes, leading to potential blackmail or pressure. Kennedy explicitly described a CBDC as “a calamity for human rights and for <a rel="noopener noreferrer nofollow" title="civil" href="https://thebittimes.com/tag/civil.html">civil</a> rights.”</p>
 <p>He specifically highlighted the example of China, where the local CBDC, the digital yuan, is tied to an extensive social credit system. Kennedy warned that such a system in the U.S. could lead to governmental control over personal finances and the ability to “shut off” individual access to funds, a concern previously raised in a 2023 Chainalysis report.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> U.S. House committee pushes anti-CBDC bill
 </div>
 <p>Kennedy, who has considered a run as a Libertarian Party <a rel="noopener noreferrer nofollow" title="candidate" href="https://thebittimes.com/tag/candidate.html">candidate</a> after leaving the Democratic Party in October 2023, has vowed to end efforts towards a U.S. CBDC if elected. He underscored the importance of Bitcoin and other cryptocurrencies in protecting financial freedom, contrasting them with the perceived <a rel="noopener noreferrer nofollow" title="threat" href="https://thebittimes.com/tag/threat.html">threat</a>s of a CBDC. He stated in October that his presidency would mark the end of the “White House war on bitcoin,” ensuring that transactions are protected and encouraged.</p>
 <p>Former U.S. President Donald Trump, echoing Kennedy’s stance, has&nbsp;also voiced opposition&nbsp;to a CBDC.</p>
 <p>Trump, who previously made&nbsp;negative comments&nbsp;about Bitcoin during his presidency, promised to “never allow” the creation of a CBDC in the U.S., citing it as a “dangerous <a rel="noopener noreferrer nofollow" title="threat" href="https://thebittimes.com/tag/threat.html">threat</a> to freedom.” He acknowledged the influence of former Republican <a rel="noopener noreferrer nofollow" title="candidate" href="https://thebittimes.com/tag/candidate.html">candidate</a>s&nbsp;Vivek Ramaswamy&nbsp;and Florida Governor&nbsp;Ron DeSantis, both of whom are pro-crypto and anti-CBDC and who endorsed Trump following their withdrawal from the presidential race.</p>
 <p>This debate on CBDCs and digital currencies has become a significant political issue. Rep. Tom Emmer (R-MN) has also&nbsp;expressed his support&nbsp;for Trump’s stance, looking forward to collaborating with him to prevent the Federal Reserve from creating a CBDC.</p>
 <p>Despite these political discussions, the Federal Reserve remains cautious. Fed Chair Jerome Powell, in a statement last September,&nbsp;indicated&nbsp;that a decision on a digital dollar is still far off, with no implementation expected for at least a few years.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> US CBDC debate heats up amid elections. Does the country need a digital dollar?
 </div> <span class="google-news-banner__label">Follow Us on Google News</span>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/presidential-candidate-kennedy-warns-against-cbdcs-labels-them-a-threat-to-civil-liberties-tbt78096.html">https://thebittimes.com/presidential-candidate-kennedy-warns-against-cbdcs-labels-them-a-threat-to-civil-liberties-tbt78096.html</a></p>

Presidential candidate Kennedy warns against CBDCs, labels them a threat to civil liberties

TheBitTimes

Other articles published on Jan 29, 2024

Criminal Charges Brought Against Ex-Celsius CEO, Alex Mashinsky, Must Stand

Arthur Hayes Forecasts 30% Short-Term Decline in Bitcoin Price

Why is Pushd (PUSHD) Drawing Interest from Dogecoin (DOGE) and XRP (XRP) Holders?

Binance Labs Denies Participating in SkyArk Chronicle’s Funding Program

LUMIERE – the new AI from Google that is revolutionizing video generation

7 Best Altcoins to Invest in Right Now January 29 – Osmosis, IOTA, Mina

Join our free newsletter for daily crypto updates!