US presidential candidate Robert Kennedy says FedNow is first step to banning Bitcoin
Robert Kennedy Jr. — a presidential candidate in the United States — believes the Federal Reserve’s digital payments system “FedNow” is the government’s first step to banning Bitcoin (BTC).
According to Kennedy, people should not be blinded by claims that FedNow would be initially restricted to interbank transactions. He pointed out that this could be “the first step in banning and seizing bitcoin as the Treasury did with gold 90 years ago today in 1933.”
The Fed announced that the FedNow payment system would be launched in July. The payment system is designed to allow bill payments, money transfers, and other activities to move faster and at a lower cost.
Several crypto stakeholders have pointed out that this move could be the government’s way of competing against the industry.