Survey Reveals American Hesitation in Adopting Central Bank Digital Currency (CBDC)

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In late May 2023, the Cato Institute and YouGov conducted a survey to examine American attitudes towards the potential introduction of a central bank digital currency (CBDC). The survey included 2,126 participants and asked their opinions on CBDC under various circumstances.

The results showed that a majority of Americans exhibit hesitation in accepting a CBDC. 68% of respondents opposed the idea of a CBDC if it allowed the government to monitor all purchases, while 74% were against the government controlling their spending. Concerns over government control of finances and surveillance were prevalent among 66% of participants. However, 42% expressed full support for using CBDC to combat money laundering and fraud.

Only 22% of those surveyed believed that the United States is likely to launch a CBDC in the future, while the majority (78%) did not expect such a development. Republicans were predominantly opposed to CBDC creation, while Democrats and Independents did not have a clear opinion. The survey also revealed that 76% of participants expressed greater concern about the potential risks associated with CBDC compared to its potential benefits.

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