Now that US President Donald Trump has taken the oath of office, the possibility of a US central bank digital currency (CBDC) has all but disappeared.
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Trump has been a vocal opponent of the CBDC, and during his campaign in New Hampshire in 2024, he pledged that he would "never allow the creation of a central bank #digital currency.
President Trump made this promise early in his campaign - in January 2024 - but there is little indication that he has changed his mind. Trump's cabinet nominees and prominent members of the Republican-controlled Congress are also actively opposing the creation of a CBDC. However, U. S. lawmakers remain focused on the proliferation of digital currencies. The lack of a digital dollar and significant bipartisan support could lead to a significant proliferation of stablecoins under the new administration.
US CBDC is dead under the Trump administration, Standard Chartered's global head of digital asset research Jeff Kendrick told Cointelegraph. "Instead, it will go the way of private stab funds, and the Fed will have no control over it.
In fact, stable coin legislation is already being passed. In the House of Representatives, Representative Patrick McHenry introduced the "Payment Stable Coin Clarification Act of 2023, and in the Senate, Republican Senator Cynthia Lummis of Wyoming and Democratic Senator Kirsten Gillibrand of New York introduced the "Lummis-Gillibrand Payment Stable Coin Act.
These bills provide the regulatory hurdles that the industry says it needs to succeed. As a result of the quick victory of congressmen on both sides of the aisle, who are expected to defend their seats again in 2026, the industry will see new regulations for stable coins as soon as possible.
Kendrick says, I think there will be a stable coin bill passed under President Trump in the next few months that will set the rules. If that happens, there will probably be more TradFi players in the US issuing stable onetcoins [... ].
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