Trump Vows to Block CBDCs to Protect Freedom
Former US President Donald Trump has once again expressed his opposition to central bank digital currencies (CBDCs), promising to prevent their creation in order to safeguard Americans from government tyranny. Speaking in New Hampshire, Trump labeled CBDCs as a dangerous threat to freedom. He was joined on stage by pro-crypto former presidential candidate Vivek Ramaswamy, who officially endorsed Trump.
Trump also pledged to stop the introduction of a digital dollar in the US, arguing that it would give the federal government absolute control over people’s money. This stance is consistent with his history of criticizing cryptocurrencies and their potential for facilitating unlawful behavior.
Trump’s Holdings and NFT Ventures
Despite his criticisms, it was revealed in October 2023 that Trump holds between $250,000 and $500,000 in digital assets. He has also ventured into the world of non-fungible tokens (NFTs) since leaving office, with the demand for his NFTs experiencing a significant surge in sales.
Pledges Against CBDCs
Trump is not alone in his opposition to CBDCs. Florida Governor Ron DeSantis has also voiced his concerns about the encroachment on civil liberties that CBDCs represent. The Florida Blockchain Association played a role in drafting an anti-CBDC bill that recently passed in Florida’s Senate. Furthermore, Bank of America has stated that while CBDCs are gaining traction globally, the launch of a digital dollar is unlikely without support from the executive branch and Congress.
Hot Take: Trump Remains Firm on Crypto Opposition
Donald Trump’s continued dismissal of cryptocurrencies and CBDCs reflects his belief that they pose a threat to freedom and enable unlawful behavior. Despite this stance, Trump himself holds a significant amount of digital assets and has even dabbled in the NFT market. While his opposition to CBDCs aligns with other politicians and institutions, the future of digital currencies in the US remains uncertain. As the debate surrounding CBDCs continues, it is clear that Trump’s position on crypto will remain a topic of interest for both supporters and critics.
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