Watch out, people. Do not fall for the new “FedNow” gimmick thinking it’s somehow the new fast transaction “Savior” of the banking world. It’s just another sneaky move by the Federal Reserve to thwart your freedom. Read below and beware.
“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.”
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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.
Meanwhile, the U.S. government’s recent crackdown on the crypto industry has been described as “operation chokepoint 2.0.” Law firm Cooper & Kirk said the “backroom war on crypto” was unlawful, unconstitutional, and arbitrary.”
You can read the rest of the story here. Oluwapelumi Adejumo (U.S. Bitcoin)
