According to the results of a survey conducted by the firm WPA Intelligence for the Club for Growth organization in the United States, more than half of voters in the Senate battleground states oppose the creation and issuance of a digital dollar.
The survey revealed that 53% of voters in Senate battleground states do not want the US government to issue a digital dollar.
Among the most compelling reasons for opposing the creation of a virtual currency for the dollar are concerns about financial privacy and oversight.
Americans are concerned about privacy with the digital dollar
Although the Federal Reserve is considering the creation of a central bank digital currency (CBDC), to digitize the dollar and move toward innovation in the economy, the majority of Americans who participated in the WPA Intelligence and Club for Growth survey are concerned about the possibility that the government could monitor each of the transactions that citizens make with this form of virtual money.
Additionally, 51% of Americans surveyed also indicated that they did not agree that the government could tax through the digital dollar.
According to The Block, which first reported the results of the survey, only 11% of Americans who participated in it agree with the Fed issuing a digital currency for the dollar.
In response to Club for Growth’s tweet, one user commented that it was “nice” to see the results of the survey conducted by WPA Intelligence. “CBDCs would eliminate consumer privacy and give central bankers unlimited control over Americans’ finances”Pointed.
Biden's regulatory framework for cryptocurrencies
According to The Block, the survey on the digital euro comes just days after the Joe Biden administration published its First reports on cryptocurrency regulation. These reports included a series of proposals and recommendations that collect multiple Design options for the digital dollar and they also pointed out the potential benefits that the issuance of a CBDC would have on the US economy.
The Fed is still evaluating the possibility of creating a digital dollar while developing a payment system called FedNow, which is presented as a great alternative to put the need to issue a CBDC on the back burner, but projects such as the Digital Dollar Project are moving forward in the development of a prototype of a digital dollar, which will be tested next month.
The project highlights that the United States must issue a CBDC for the dollar in order to stay at the forefront of new technologies and maintain its leadership over other nations in the world, such as China, which has already issued its own digital currency for the yuan.
What do Americans think about Bitcoin's environmental impact?
The survey conducted by WPA Intelligence and Club for Growth also touched on other topics besides the issuance of a digital dollar. Among these, it questioned how large the environmental impact of Bitcoin and other proof-of-work cryptocurrencies is considered to be.
In response, 42% of Americans surveyed said they were unsure whether Bitcoin caused environmental damage , while 27% said that cryptocurrency does not have a significant environmental impact enough to cause damage.
The remaining 31% of Americans surveyed answered yes to this question, indicating that the operation of Bitcoin does have an impact on the environment.
Main image from Pixabay
Continue reading: Half of Americans don't know what an NFT is
