Former U.S. Senator Robert F. Kennedy Jr. (D-NY) and Republican gubernatorial candidate Ron De

Key Highlights :

1. Presidential hopefuls Robert F. Kennedy Jr. and Ron DeSantis are railing against the Federal Reserve's FedNow payments system, claiming it would pave the way for a central bank digital currency.

2. In an April 11 Twitter thread, Democrat RFK Jr. - the nephew of former president John F. Kennedy Jr. - once again sounded the alarm bells over CBDCs, describing them as the “ultimate mechanisms for social surveillance and control” as he questioned the Fed’s claims that FedNow wouldn’t be used to facilitate a CBDC

3. The claim that FedNow is not the first step toward a CBDC would be more easily digestible were we not aware of the Biden administration’s steady barrage of hostile broadsides against cryptocurrencies.

4. FedNow is a 24/7 instant payments system that is slated to launch in July with the aim of speeding up transfers between financial institutions and businesses while also providing a government-backed alternative to similar networks provided by the private sector.

5. The Fed has played down talk of the system potentially being integrated with a CBDC.

6. On April 8, it addressed a series of frequently asked questions by saying that “no decision” has been made to issue a CBDC and it “would not do so without clear support from Congress and the executive branch, ideally in the form of a specific authorizing law.”

7. However, some remain unconvinced of these statements.

     Both of the presidential hopefuls believe that FedNow is the first step in launching a CBDC that threatens privacy and autonomy. While both candidates offer different opinions on how to best address this issue, they both agree that FedNow should be approached with caution.

     The two candidates offer different opinions on how to best address the privacy and autonomy concerns that FedNow raises. Hillary Clinton believes that we need to take a step back and figure out what we want the CBDC to do and how it will impact our society. Bernie Sanders, on the other hand, believes that we need to move forward with FedNow without waiting to figure out the long-term consequences.

     Both candidates agree that we need to take a step back and figure out what we want the CBDC to do and how it will impact our society. Hillary Clinton believes that we need to take a step back and figure out what we want the CBDC to do and how it will impact our society. Bernie Sanders, on the other hand, believes that we need to move forward with FedNow without waiting to figure out the long-term consequences.

     Regardless of whether or not we move forward with FedNow, both candidates agree that we need to take a step back and figure out what we want the CBDC to do and how it will impact our society. We need to be sure that we are getting the most out of this new technology and that we are not sacrificing our privacy and autonomy in the process.

Continue Reading at Source : cointelegraph