Most Americans Oppose US CBDC Allowing The Government to Track and Control Spending

According to the latest reports, it seems that most of the people in the US oppose the idea of a CBDC that would allow the government to track and control us. Check out the latest reports about this.

A new survey from an American think tank shows an overwhelming majority of US adults are against the adoption of a central bank digital currency (CBDC). You probably know by now that this would allow the government to track and control their financial activities.

As the online pubcalition the Daily Hodl notes, the Cato Institute, in collaboration with market research firm YouGov, collected responses from 2,126 US adults between February 27th to March 8th of this year to check the country’s sentiment on the potential pros and cons of a CBDC.

“The study finds that 74% of respondents would oppose the issuance of a CDBC if it gave the government control over how people spend their money,” the notes say.

According to the same official notes, it seems that about 68% say that they are against the adoption of a CDBC if it meant that the government could keep an eye on their spending.

The CEO of Okcoin, a crypto exchange headquartered in San Francisco, expressed concern that government regulation of blockchain technology through the use of central bank digital currencies (CBDCs) could result in a dystopian society.

During an interview with David Lin, Hong Fang expressed her appreciation for Florida’s recent prohibition on CBDCs, stating that she “loves” it.

The CEO of Okcoin puts forth the argument that the creation of a CBDC is a means for the government to exert control over the everyday lives of its citizens.

“It’s control – it’s controlling everything. Once the government is controlling it, it’s very hard to give back control, so I think we have to be very careful about that.”