Trump Vows to Ban CBDC if Re-elected
According to former President Donald Trump, the creation of a central bank digital currency (CBDC) is a dangerous threat to freedom and he promises to stop it in America if he regains office.
Concerns Over Control with CBDCs
Donald Trump expressed his concerns about a central bank digital currency, stating that it would give the federal government absolute control over people’s money. He firmly stated that he would not allow the creation of a CBDC.
The Political Landscape on CBDCs
While no formal proposal has been made by the Federal Reserve to introduce a CBDC, the topic of an American CBDC has become a focal point in U.S. politics. This issue has also garnered widespread attention for Florida Governor Ron DeSantis.
However, DeSantis has made it clear that he is not against cryptocurrency and vowed to allow Americans to invest in assets like Bitcoin.
Pushback Against CBDCs
The U.S. House Financial Services Committee has introduced a bill restricting the Federal Reserve from issuing a CBDC. The bill was spearheaded by Majority Whip Tom Emmer, who believes that a central bank digital currency could be used as a surveillance tool.
Hot Take
It’s important to stay informed about how political leaders view the introduction of central bank digital currencies. It’s an evolving topic that can have major implications for the future of finance and individual freedoms.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies.Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.
