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According to a recent survey conducted by the Cato Institute, in partnership with market research firm YouGov, most American adults are opposed to implementing a central bank digital currency (CBDC) that allows the government to monitor and control their financial transactions.
The survey, which gathered responses from 2,126 US adults between February 27th and March 8th of this year, aimed to gauge public opinion on the potential advantages and disadvantages of a CBDC.
The results indicate that 74% of participants would be against the introduction of a CBDC if it meant that the government could dictate how individuals spend their money.
Similarly, approximately 68% of respondents expressed their disapproval of adopting a CBDC if it entailed government surveillance of their spending habits.
Likewise, 68% of participants stated that they would not support a digital dollar if it resulted in the elimination of physical cash, while 64% claimed they would be reluctant to embrace a CBDC if it enabled the Federal Reserve to impose taxes on individuals who practice fiscal restraint during economic downturns.
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In addition, more than half of the respondents (59%) stated that they would not be in favor of a CBDC that granted the government the authority to freeze the bank accounts of American protesters.
The study also revealed that merely 16% of US adults favor a government-issued CBDC.