WASHINGTON—Twice as many Americans (34%) oppose the Federal Reserve offering a central bank digital currency as favor it (16%) a new study reveals.
The survey from the Cato Institute found, nevertheless, a plurality of Americans (49%) have not formed an opinion.
“This likely stems from the fact that only 28% of Americans are familiar with CBDCs and 72% are not,” the Cato Institute said.
While strong majorities of both Democrats and Republicans are unfamiliar with CBDCs, Republicans are slightly more familiar (34%) than Democrats (25%) and independents (25%). However, Democrats are about twice as inclined (22%) to support adopting a CBDC than are Republicans (11%).
An ’Interesting’ Finding
“Interestingly, a majority (53%) of Republicans oppose a CBDC, while most Democrats (56%) don’t have an opinion and 22% are opposed. However, once benefits and risks are considered, both Democrats and Republicans are wary of a CBDC,” the Cato Institute said.
Additional Findings
Additional findings include:
- Men are about twice as likely (22%) as women (11%) to support a CBDC.
- Black Americans are nearly three times as likely (32%) as white Americans (13%) to support a CBDC and are more likely than Hispanic Americans (20%) to support one, the study shows.
- Young Americans are about 10 times more supportive of a CBDC than seniors. Nearly a third (32%) of people under age 30 support a CBDC compared to 25% of 30–44-year-olds, 8% of 45–64-year-olds, and 3% of Americans over 65.
- While about half of all age groups don’t have enough information to support or oppose the United States adopting a CBDC, about half of Americans over age 55 oppose it.
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