The possibility of a U.S. central bank digital currency (CBDC) has become a hot-button political issue in the U.S., but it appears that concern over such a monetary instrument is also shared by America’s neighbors to the north in Canada as well as among its forbearers across the pond in the UK.

Two surveys published last week—one by hardware wallet manufacturer Trezor and the other by financial news site WealthRocket—examined public attitudes toward CBDCs in the UK and Canada, respectively. Each one posed distinct questions, yet reached similar conclusions.

People in Canada and the UK have clear reservations about the tech that central banks and governments across the globe are exploring as an alternative to cash. A majority of Brits said they were concerned about UK authorities having control over people’s funds, while 39% of Canadians said a loss of control over their finances was a concern.

“There is a distrust of government in so many countries around the world,” Steven Lubka, head of private clients and family offices at Swan Bitcoin, told Decrypt in an interview. “They don’t want to just hand over unilateral control over their money to their states.”

CBDCs are digital tokens, similar to stablecoins. But CBDCs are maintained by their respective governments or central banks as opposed to being issued by private companies on public networks like Cricle’s USDC or Tether’s USDT stablecoins.

Both surveys come as CBDC public comment periods come to a close in Can

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Author: André Beganski

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