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

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

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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