Presidential candidate calls CBDC a ‘serious threat to freedom’

Vivek Ramaswami, a candidate in the ongoing US presidential race, criticized the digital dollar and Treasury Secretary Janet Yellen for promoting CBDC.

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\n«CBDC is the latest Trojan horse of the Great Reset and a direct path to a social credit system that will permanently entrench ESG in our currency. The dollar will be stronger if we shield it from digitization», — said he.

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The politician said that China is rolling out the digital yuan to curb people’s freedom.

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\n«For exactly the reasons the CPC wants to do this, we in the US should not do so», — explained Ramaswami.

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He also noted the potential threat CBDC poses to the freedom Americans enjoy in choosing how to use and invest money and resources.

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The U.S. presidential election is scheduled for November 5, 2024. Florida Governor Ron DeSantis, who has mounted his candidacy, opposed the introduction of CBDC. In May, he announced a ban on the digital dollar in the state.

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In April, another candidate for the U.S. presidency — Robert Francis Kennedy Jr. — also criticized CBDC. He described such payment instruments as “the ultimate mechanism for social monitoring and control”.

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In August, Miami Mayor and current presidential hopeful Francis Suárez promised to ban CBDC if elected president.

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In June, Coinbase CEO Brian Armstrong named the upcoming U.S. elections a key moment for regulating digital assets.

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According to a Grayscale report, the promotion of cryptocurrencies by presidential candidates is driven by the forecast that members of Generation Z and Millennials will make up a significant portion of voters — about 44%. Young people trust traditional institutions less and are more inclined toward new technologies.

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