American rapper, Post Malone has criticized the idea of a potential United States Central Bank Digital Currency () describing it as a means of government control.
The celebrity dropped his two cents on the issue on the popular , the “Joe Rogan Experience” where the duo fired shots at the government highlighting the problems the digital currency will create in the country.
Rogan was vocal about his distaste when asked about his views by Malone calling it a government checkmate on citizens. Malone also expressed a similar view as the debate continued.
“No fucking way. No way, I think that’s checkmate. That’s game over.”
According to Rogan, the government’s endgame would be to strip citizens of all their money forcing an unwilling compliance as a result of fear of losing all their assets to the government.
“People won’t want everything they have worked for to be taken overnight instantly,” he said, emphasizing that this will leave people feeling “powerless” and “with nobody to call.”
While Rogan raised more issues concerning tracking social credit scores, Malone concurred that these tracking systems are already present in centralized finance and in a way, control behavior.
Although both celebrities did not mention Bitcoin (BTC) or other cryptocurrencies, the digital asset community took it as a show of support due to the recent government’s bottleneck efforts at regulating digital assets.
The conversation on CBDCs has been debated by politicians, athletes, and industry executives with a popular notion that Central Banks and other regulators plan to cripple crypto with the asset.
CBDC v Bitcoin: The crypto community stands with BTC
As the debate over CBDCs continues, industry experts have warned about the risk government-backed assets pose to the growth of the industry amid swirling regulatory uncertainty.
The digital asset community has also queued behind Malone and Regan after their recent podcast talk on the subject with many asking crypto enthusiasts to keep CBDCs at arm’s length.
The recent major backlash promoters of CBDCs especially the digital dollar have faced has come from crypto-friendly politicians.
In June, President hopeful Robert F Kennedy termed CBDCs as ” that will surely be abused once approved.
Speaking with the New York Times, he detailed his plans for Bitcoin stating his plans for crypto wallets, and network security while firing shots at Joe Biden’s 30% crypto mining tax proposal.
“I will make sure that we have policies that support Bitcoin and the freedom to transact, … only allow the narrowest controls that are necessary to prevent money laundering.”
Similarly, Florida Governor Ron DeSantis that the present administration is currently at war with the cryptocurrency community vowing to bring it to an end if elected.