Survey: Public either unaware or skeptical of central bank digital currency

Most Americans have not formed an opinion on whether the Federal Reserve should offer a central bank digital currency, but among those that have, an overwhelming majority oppose it, according to a recent survey by the Cato Institute, a libertarian think tank. The survey found that 49% of U.S. respondents do not have an opinion on a CBDC, 34% oppose it and only 16% support it.

The survey found that Republican respondents were slightly more familiar with the concept of a CBDC than Democrats. At the same time, Democrats were about twice as inclined (22%) to support adopting a CBDC than Republicans (11%). The survey also found that people under age 30 were more likely to support a CBDC than older demographics. Still, large majorities of all respondents said they would oppose a CBDC if it meant the government could see or control their spending, eliminated cash or increased the risk of cyberattacks.