The Federal Reserve has addressed concerns that its newly launched rapid payment system, FedNow, may give the government access to Americans' bank accounts and allow them to be frozen. However, representatives from the Federal Reserve have stated that the FedNow service will not grant the agency any additional powers for surveillance or enforcement. Despite this, fears of a new financial system that monitors Americans' financial activities have grown in recent years, particularly with discussions of a central bank digital currency (CBDC). Democratic presidential candidate Robert F. Kennedy Jr. has warned about the potential threat of CBDCs to the economic freedom of US citizens and expressed support for Bitcoin as a decentralized form of money that enables people to control their finances without restriction or influence from authorities or financial organizations.
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