American environmental lawyer and member of the Kennedy family, Robert F. Kennedy Jr., has voiced his opposition towards Central Bank Digital Currencies (CBDCs). According to Kennedy, these currencies will give the government sweeping powers to suppress dissent by restricting citizens’ access to funds with a stroke of a button. This opens up the potential of financial censorship as done recently by the governments of Russia, Canada and the US which used it to target political enemies or protesters.

In contrast, Kennedy is a strong advocate of Bitcoin and other cryptocurrencies. He believes these technologies provide freedom from government interference hence allowing citizens the right to conduct financial transactions without the risk of them being monitored or censored. Bitcoin and similar digital assets have even been deemed ‘lifesavers’ for people in countries where political dissent is heavily suppressed, such as Burma.

Kennedy warned that the same type of situation could likely transpire in the US, especially with regards to private companies feeling under pressure by government and regulatory agencies. He cited as an example the conflict between the US State Department and WikiLeaks which was eventually suspended by PayPal, Visa, and MasterCard.

As such, the environmental law advocate believes citizens’ right to save and spend without it being impeded by state politics is of utmost importance and fundamental to any civil society. Kennedy noted that this not only applies to both left and right-leaning political groups, but to all of society which looks to ‘protect democracy from powerful and established interests’. He appeals to the government to recognize this and to act appropriately when considering the introduction of CBDCs.



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