U.S. Presidential Hopefuls Kennedy Jr. and Trump Firmly Oppose CBDCs

Libertarian Opposition to CBDCs

Two prominent U.S. presidential hopefuls, Robert F. Kennedy Jr. and former President Donald Trump, stand firmly against the adoption of Central Bank Digital Currencies (CBDCs). Kennedy Jr., considering a presidential bid and potentially aligning with the Libertarian Party, is committed to preserving financial autonomy. He vows to end efforts toward CBDC adoption, expressing concerns about government surveillance and the potential erosion of privacy.

Kennedy Jr.'s Libertarian Aspirations

Kennedy Jr., exploring the possibility of running as an independent or receiving a Libertarian nomination, emphasizes his dedication to ensuring individuals can use cryptocurrencies like Bitcoin, maintain personal wallets, and conduct secure transactions. His opposition to CBDCs stems from the perceived threat they pose to financial privacy and individual control over private financial affairs.

Trump's Rally Pledge

Former President Donald Trump, echoing the opposition to CBDCs, has pledged to prevent the federal government from exercising control over Americans' finances through a cryptographic financial system under the Central Bank's control. This stance aligns with advice from Vivek Ramaswamy, a Trump-endorsed candidate, and reflects a shared commitment to resisting the encroachment of CBDCs on financial freedoms.

Clarification on Campaign Alignment

Despite both Kennedy Jr. and Trump opposing CBDCs, it's essential to note that Kennedy Jr. is not considered for the vice-presidential position within the Trump campaign. Chris LaCivita, senior adviser to the Trump campaign, provides this clarification.

Federal Reserve's Ongoing Evaluation

While Kennedy Jr. and Trump express strong opposition, the Federal Reserve has not finalized plans for a digital dollar. Fed Chair Jerome Powell confirms that a decision on this matter remains years away. The ongoing debate surrounding CBDCs involves weighing potential benefits and drawbacks as experts and policymakers consider the introduction of a digital version of the U.S. dollar.