Robert Kennedy Jr. says central bank digital currencies (CBDCs) could lead to financial slavery and political tyranny.

Robert Kennedy Jr., a presidential candidate in the United States, is of the opinion that the Federal Reserve’s digital payments system known as “FedNow” is the initial step the government is taking to prohibit Bitcoin (BTC).

Kennedy says that people shouldn’t be fooled by claims that FedNow will only be available for interbank transactions at first. He mentioned the possibility that this would be “the first step in banning and seizing bitcoin like the Treasury did with gold 90 years ago today in 1933.”

The Fed announced the July launch of the FedNow payment system. The purpose of the payment system is to facilitate faster and more cost-effective bill payments, money transfers, and other activities.

It has been suggested by a number of crypto stakeholders that the government may be using this move to compete with the industry.

Meanwhile, the recent crackdown on the cryptocurrency industry carried out by the United States government has been dubbed “operation chokepoint 2.0.” The “backroom war on crypto” was deemed unlawful, unconstitutional, and arbitrary by the law firm Cooper & Kirk.

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Kennedy highlights the dangers of CBDCs

The Democrat compared the FedNow to a Central Bank Digital Currency (CBDC), pointing out a number of potential dangers for citizens of the United States.

Kennedy Jr. claims that CBDCs ease the way for financial slavery and political tyranny. He mentioned that the government could “surveil all our private financial affairs” with this digital currency.

“The central bank will have the power to enforce dollar limits on our transactions restricting where you can send money, where you can spend it, and when money expires.”

He explained that the digital currency could give the government power to freeze citizens’ assets or even limit their spending when they fail to “to comply with arbitrary diktats.”

The presidential candidate added:

“Watch as governments, which never let a good crisis go to waste, use Covid-19 and the banking crisis to usher in a new wave of CBDCs as a safe haven from germ-laden paper currencies or as protection against bank runs.”

Kennedy is a nephew of President John F. Kennedy and the son of the U.S. attorney general and New York Senator Robert F. Kennedy.