US presidential candidate Robert Kennedy says FedNow is first step to banning Bitcoin

Robert Kennedy Jr. — a presidential candidate in america — believes the Federal Reserve’s digital funds system “FedNow” is the federal government’s first step to banning Bitcoin (BTC).

Based on Kennedy, individuals shouldn’t be blinded by claims that FedNow can be initially restricted to interbank transactions. He identified that this could possibly be “step one in banning and seizing bitcoin because the Treasury did with gold 90 years in the past at present in 1933.”

The Fed introduced that the FedNow cost system can be launched in July. The cost system is designed to permit invoice funds, cash transfers, and different actions to maneuver quicker and at a decrease value.

A number of crypto stakeholders have identified that this transfer could possibly be the federal government’s manner of competing in opposition to the trade.

In the meantime, the U.S. authorities’s current crackdown on the crypto trade has been described as “operation chokepoint 2.0.” Regulation agency Cooper & Kirk mentioned the “backroom battle on crypto” was illegal, unconstitutional, and arbitrary.

Kennedy highlights the hazards of CBDCs

The Democrat equated the FedNow to a Central Financial institution Digital Foreign money (CBDC), highlighting a number of risks that this portends for U.S. residents.

Based on Kennedy Jr., CBDCs grease the slippery slope to monetary slavery and political tyranny. He famous that the federal government may use this digital foreign money to “surveil all our non-public monetary affairs.”

“The central financial institution can have the ability to implement greenback limits on our transactions proscribing the place you may ship cash, the place you may spend it, and when cash expires.”

He defined that the digital foreign money may give the federal government energy to freeze residents’ belongings and even restrict their spending once they fail to “to adjust to arbitrary diktats.”

The presidential candidate added:

“Watch as governments, which by no means let disaster go to waste, use Covid-19 and the banking disaster to usher in a brand new wave of CBDCs as a secure haven from germ-laden paper currencies or as safety in opposition to financial institution runs.”

Kennedy is a nephew of President John F. Kennedy and the son of the U.S. lawyer basic and New York Senator Robert F. Kennedy.

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