A new survey from a US think tank shows that an overwhelming majority of US adults oppose the adoption of a central bank digital currency (CBDC), which would allow the government to monitor and control their financial activities.
The Cato Institute, in partnership with market research firm YouGov, collected responses from 2,126 U.S. adults between February 27 and March 8 this year to monitor the nation’s sentiment about the potential pros and cons of a CBDC.
The survey found that 74% of respondents would be against issuing a CDBC if it gave government control over how people spend their money.
About 68% say they would oppose the introduction of a CDBC if it meant that the government could keep an eye on their spending.
Meanwhile, 68% say they would not support a CBDC if the digital dollar eliminated all cash, and 64% say they would be averse to adopting a CBDC if it allowed the Federal Reserve to tax Americans who tightening their belts in a recession.
More than half of respondents (59%) say they would not accept a CBDC that gives the government the power to freeze the bank accounts of US protesters.
The survey also shows that only 16% of US adults support the idea of a government-issued CBDC.
You can read the full report here.
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