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Why Robert Kennedy Jr. Thinks FedNow Will Ban Bitcoin

Robert Kennedy Jr., a presidential candidate and environmental lawyer, has recently expressed his opposition to the 's plan to a digital system called FedNow. He claims that this is a covert attempt to ban and seize Bitcoin, the leading cryptocurrency by cap.

FedNow is a service that will enable banks to offer to their customers, 24/7, 365 days a year. The claims that this will enhance the efficiency, speed, and of the US system. However, Kennedy Jr. is not convinced by this rationale.

He argues that FedNow is actually a precursor to a central bank digital currency (CBDC), which is a digital form of issued and controlled by the central bank. He warns that could pose a threat to the , freedom, and sovereignty of individuals and businesses who use like Bitcoin.

“The Fed will initially limit its CBDC to interbank but we should not be blind to the obvious danger that this is the first step in banning and seizing bitcoin as the did with 90 years ago today in 1933,” he said in a tweet on April 7.

He also compared FedNow to 's digital yuan, which is already being tested in several cities and regions. He said that China's CBDC is designed to monitor and control every transaction and activity of its citizens, and that the US could follow suit with FedNow.

“Watch as governments, which never let a good crisis go to waste, use Covid-19 and the crisis to usher in a new wave of CBDCs as a safe haven from germ-laden paper currencies or as protection against bank runs,” he added.

How Bitcoin Supporters Reacted to Kennedy Jr.'s Statement

Kennedy Jr.'s statement has sparked mixed reactions from the . Some praised him for his awareness and courage to speak out against the Fed's agenda. Others questioned his credibility and motives, given his controversial views on vaccines and change.

Some of the positive comments include:

  • “Thank you for speaking up for Bitcoin. You have my vote.”
  • “Finally, a presidential candidate who understands Bitcoin and its importance for freedom.”
  • “You are one of the few politicians who get it. FedNow is a Trojan horse for CBDCs and surveillance.”

Some of the negative comments include:

  • “You are spreading misinformation and fear-mongering. FedNow is not a CBDC and it will not ban Bitcoin.”
  • “You are an anti-vaxxer and a climate denier. You have no credibility or authority to talk about Bitcoin.”
  • “You are just using Bitcoin as a political tool to gain popularity. You don't care about its or vision.”

What You Need to Know About FedNow and CBDCs

If you are interested in learning more about FedNow and CBDCs, here are some key points you should know:

  • FedNow is expected to launch in July . It will compete with other private-sector payment services such as PayPal, Venmo, Zelle, and Square.
  • FedNow is not a CBDC, but it could pave the way for one in the . The Fed has not officially announced any plans to issue a CBDC, but it has been researching and experimenting with the idea.
  • A CBDC is a digital version of a country's national currency that is issued and by the central bank. It can be used as a medium of , a unit of account, and a store of .
  • A CBDC could have some advantages over and traditional payment systems, such as lower costs, faster transactions, greater , and improved financial inclusion.
  • A CBDC could also have some disadvantages over cash and cryptocurrencies, such as less privacy, more censorship, more centralization, and more .
  • Bitcoin is a decentralized cryptocurrency that operates on a network of nodes and miners. It does not rely on any central authority or intermediary to validate transactions or issue new coins.
  • Bitcoin has some advantages over cash and CBDCs, such as more privacy, more freedom, more security, and more scarcity.
  • Bitcoin also has some disadvantages over cash and CBDCs, such as higher volatility, lower , higher complexity, and higher consumption.

The Bottom Line

Robert Kennedy Jr., a US presidential candidate and environmental lawyer, has voiced his opposition to the Fed's plan to launch FedNow, a digital payments system that he believes will lead to the banning and seizing of Bitcoin. He has compared FedNow to China's digital yuan, which he claims is a tool for surveillance and control. He has also warned that FedNow could be a precursor to a CBDC, which could pose a threat to the privacy, freedom, and sovereignty of individuals and businesses who use cryptocurrencies like Bitcoin.

His statement has received mixed reactions from the Bitcoin . Some have supported him for his awareness and courage, while others have criticized him for his misinformation and fear-mongering. Some have also questioned his credibility and motives, given his controversial views on vaccines and climate change.

FedNow and CBDCs are complex and evolving topics that have implications for the future of money and society. They have both advantages and disadvantages over cash and cryptocurrencies, depending on the perspective and preference of the user. It is important to educate oneself about these topics and make informed decisions based on facts and evidence.

What do you think about FedNow and CBDCs? Do you agree or disagree with Robert Kennedy Jr.'s statement? How do you think they will affect Bitcoin and other cryptocurrencies? Let us know in the comments below! 😊

Emily Lee

By Emily Lee

Hi, I’m Emily Lee, a writer at I love to write about technology, culture, and entertainment. I’m always curious about new trends and innovations, and I enjoy sharing my insights and opinions with my readers. I have a degree in journalism from the University of California, Berkeley, and I have worked as a freelance writer for various publications before joining When I’m not writing, I like to read books, watch movies, and play video games. You can follow me on Twitter @emily_lee or email me at

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