US Presidential candidate Robert F. Kennedy Jr. stated the federal government’s plans to difficulty the central bank digital currency (CBDC) worries him. He reiterated that the CBDCs are designed to be the federal government’s devices of energy and management, including that he was involved in regards to the assaults on Bitcoin and the crypto ecosystem.
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Freedom of Transaction
The presidential candidate stated Bitcoin could be a “freedom currency” that’s impartial of governments. Freedom of transaction is as essential as freedom of speech, he commented. Speaking to Bitcoin Magazine, he said the CBDCs will in the end used as an excuse to abolish money currencies. He stated the CBDCs shall be managed in such a approach that individuals wouldn’t be capable to spend as they need because the CBDCs are programmable by the federal government.
“I am against CBDCs. I think they will become an instrument of power and control.”
In July 2023, Kennedy Jr. made news with the revelation that he purchased every of his 7 kids 2 Bitcoin every. He is understood for advocating cryptocurrencies as instruments with potential to carry out the poor out of poverty, whereas additionally proposing a number of regulatory initiatives to encourage using Bitcoin.
Threat To US Dollar
Kennedy Jr. stated the way forward for the US Dollar is unsure within the context of the exponential development of the BRICS Group. Although the group doesn’t have a reserve forex of their very own, the member nations permit transactions to be settled in native currencies, which is a menace to the Dollar’s standing because the world reserve forex, the presidential candidate defined.
Earlier, CoinGape reported his feedback about plans to again the US greenback with Bitcoin and making Bitcoin income exempt from capital beneficial properties taxes.
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