Donald Trump Vows to Block Central Bank Digital Currency (CBDC) Creation
Former U.S. President Donald Trump has made a firm commitment to prevent the creation of a central bank digital currency (CBDC) if he is reelected. During a campaign speech in New Hampshire, Trump expressed his concerns about CBDCs, describing them as a “dangerous threat to freedom.” He emphasized that as President, he would never allow the implementation of a CBDC in the United States.
Trump argued that a CBDC would grant the federal government complete control over people’s money, enabling them to seize funds without detection. He pledged to protect Americans from potential government tyranny and ensure that a CBDC does not enter the country.
Shifting Stance on Crypto
This stance against CBDCs reflects Trump’s evolving perspective on cryptocurrencies as he seeks support from the pro-crypto constituency. He was accompanied by Vivek Ramaswamy, a former Presidential candidate with crypto-friendly views, who endorsed Trump after the Iowa caucuses.
Furthermore, Trump has recently capitalized on the popularity of non-fungible tokens (NFTs), earning millions of dollars by selling NFT collections and converting Ethereum into cash.
Crypto’s Role in Campaign Trail
The topic of crypto and the potential implementation of a U.S. CBDC has become a contentious issue during the campaign. Ron DeSantis, Governor of Florida and Trump’s rival for the Republican nomination, has pledged to “end Biden’s war on Bitcoin” and has even banned CBDCs in his state. Additionally, DeSantis announced that Florida businesses would be able to pay state taxes using Bitcoin.
Hot Take: Donald Trump’s Opposition to CBDCs Reflects Shifting Crypto Stance
Former U.S. President Donald Trump has firmly declared his opposition to the creation of a central bank digital currency (CBDC). In a campaign speech, Trump expressed concerns about the potential dangers of CBDCs, emphasizing that they would grant the federal government excessive control over individuals’ finances. Trump’s stance on CBDCs is part of his strategy to appeal to the crypto community and distance himself from previous skepticism. He has also ventured into the world of non-fungible tokens (NFTs), capitalizing on their popularity. The topic of crypto and CBDCs has become a prominent issue on the campaign trail, with other candidates expressing their views and taking actions related to cryptocurrencies.
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