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US Presidential candidate Robert F. Kennedy Jr. mentioned the federal government’s plans to concern 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 mentioned Bitcoin is usually a “freedom currency” that’s unbiased of governments. Freedom of transaction is as vital 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 mentioned the CBDCs shall be managed in such a method that individuals wouldn’t be capable of spend as they want 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 convey out the poor out of poverty, whereas additionally proposing a number of regulatory initiatives to encourage using Bitcoin.

Threat To US Dollar

Kennedy Jr. mentioned 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 foreign money of their very own, the member international locations enable transactions to be settled in native currencies, which is a risk to the Dollar’s standing because the world reserve foreign money, 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 positive factors taxes.

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Anvesh stories main crypto updates round U.S. regulation and market transferring traits. Published over 1,200 articles to date on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at anvesh@coingape.com or twitter.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/

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