Former President Donald Trump Promises to Block CBDC Creation in the United States
During a campaign stop in New Hampshire, former US President Donald Trump made a pledge to never allow the creation of a central bank digital currency (CBDC) in the United States. Trump highlighted the potential risks associated with CBDCs, such as de-banking and political weaponization. He was joined by crypto supporter Vivek Ramaswamy, who showed his support for Trump by suspending his own campaign. Trump emphasized that CBDCs could give the government complete control over people’s money and vowed to stop it from being implemented in America.
No CBDC Proposal from the Federal Reserve
At present, the Federal Reserve has not proposed the introduction of a CBDC. Despite this, CBDCs remain a significant point of discussion, especially on the campaign trail, with Florida Governor Ron DeSantis also expressing his opposition to them. DeSantis promised to block central bank digital currencies if he becomes president. However, in the Iowa Caucus, DeSantis lost to Trump, resulting in former candidate Vivek Ramaswamy dropping out of the race. Ramaswamy had proposed a crypto-focused policy framework.
Trump’s Changing Stance on Crypto
While Trump was initially critical of cryptocurrencies like Bitcoin, his views have evolved since leaving the White House. He has even engaged with non-fungible tokens (NFTs). House Majority Whip Tom Emmer believes that if Trump were to return to the White House, his administration would adopt a more crypto-friendly approach.
Hot Take: Trump Takes a Stance Against CBDCs and Embraces Crypto
Former US President Donald Trump has firmly stated that he will not allow the creation of a central bank digital currency in the United States. Trump emphasized the risks associated with CBDCs, including potential government control over people’s money. Despite his previous reservations towards cryptocurrencies, Trump’s views on crypto have changed, and he has even ventured into the world of NFTs. Whether or not Trump returns to the White House, his stance against CBDCs and growing interest in crypto indicate a potential shift towards a more crypto-friendly approach in the future.
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