Robert F. Kennedy Jr., a presidential candidate and the first to accept Bitcoin for campaign donations, has echoed the sentiments of former President Donald Trump by promising to put an end to the development of a Central Bank Digital Currency (CBDC) in the United States. Kennedy expressed his concerns about the potential threats a CBDC might pose to citizen privacy and civil rights.
What’s Robert F. Kennedy Jr’s crypto take?
On January 24, Kennedy took to social media to share a snippet of his discussion on the risks associated with a CBDC, specifically during an appearance on X. In a short video, Kennedy talked about how a government-controlled digital currency could let the authorities watch every transaction people make. He said this kind of surveillance might lead to blackmail or unwanted pressure, which is a big problem for our rights and freedoms.
Kennedy and Joseph Mercola share similar opinions on the topic, as they talked about it together. Mercola, known for hosting the podcast “Take Control Over Your Health,” has been an advocate for alternative remedies for COVID-19.
Drawing attention to the example of China, Kennedy expressed his concern about the digital yuan, China’s CBDC, being linked to an extensive social credit system. He emphasized that, according to U.S. politicians, the Chinese government has the ability to cut off an individual’s access to funds based on surveillance data, creating a potential infringement on personal freedom.
CBDC’s to dead in US?
Referencing a 2023 Chainalysis report that raised privacy concerns in China, Kennedy warned against the possibility of combining financial data from a digital currency with other supporting data for use in a social credit system. He strongly asserted that if elected president, he would actively work to halt any efforts to move toward a CBDC in the United States, advocating for the preservation of paper cash.
Kennedy, who parted ways with the Democratic Party in October 2023, is currently navigating the challenge of gaining inclusion on state ballots. The process is complicated by the fact that party ballot access typically requires fewer voter signatures than running as an independent. In January 2024, he expressed openness to running as a Libertarian Party candidate, showcasing his determination to make his presidential bid a reality.
His stance on digital currency is not isolated, as former President Donald Trump has also declared his commitment to preventing the introduction of a CBDC in the United States. Despite Trump’s previous negative comments about Bitcoin during his presidency, his former Republican Party opponents, Vivek Ramaswamy and Florida Governor Ron DeSantis, have taken pro-crypto and anti-CBDC positions in their respective presidential campaigns. Both Ramaswamy and DeSantis endorsed Trump after exiting the race.
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