Donald Trump Promises to "Never Allow" Central Bank Digital Currencies (CBDC) if Elected -January 18, 2024
Former President and front-runner in the Republican leadership race, Donald Trump, has promised to ban the creation of a central bank digital currency (CBDC) during a campaign stop in New Hampshire.
"As your president, I will never allow the creation of a central bank digital currency,” Trump said on stage, joined by crypto-friendly former candidate Vivek Ramaswamy, who recently suspended his campaign.
JUST IN: 🇺🇸 Donald Trump says "As your president, I will never allow the creation of a Central Bank Digital Currency. Such a currency would give our federal government absolute control over your money."
January 18, 2024
“This would be a dangerous threat to freedom, and I will stop it from coming to America,” he continued. “Such a currency would give a federal government, absolute control over your money. They could take your money, and you wouldn’t even know it was gone.”
CBDCs are digital versions or tokenized versions of cash that are issued and regulated by central banks that may or may not use blockchain as an underlying technology.
Trump, once a critic of crypto, owned over $2.5 million in ether according to an August 2023 disclosure.
While there's currently no proposal from the Federal Reserve to introduce a CBDC, this hasn't stopped it from becoming a hot issue in U.S. politics, particularly on the campaign trail.
