Former U.S. President and presidential candidate Donald Trump has pledged to prevent the Federal Reserve from creating a central bank digital currency (CBDC) in the United States. During a campaign speech in New Hampshire, Trump expressed concerns about a CBDC, stating it would grant the federal government absolute control over individuals' money. He emphasized the potential threat to freedom posed by such a currency and promised to stop it from being implemented in America. Trump's stance aligns with his commitment to protecting Americans from what he perceives as government tyranny.
Former U.S. President and presidential candidate Donald Trump has declared his intention to prevent the Federal Reserve from introducing a central bank digital currency (CBDC) in the United States. During a campaign speech in New Hampshire, Trump voiced concerns about the implications of a CBDC, highlighting the potential for the federal government to gain absolute control over individuals' money.
In his Jan. 17 speech, Trump made a promise to protect Americans from what he described as government tyranny, particularly in the context of financial control. He expressed worries about the introduction of a CBDC, stating that it could enable the federal government to seize individuals' money without their knowledge.
The audience responded with cheers and applause, prompting Trump to acknowledge their awareness, stating, "I didn't know you knew so much... New Hampshire, very smart people." He reiterated his commitment to preventing the creation of a CBDC in the U.S., characterizing it as a dangerous threat to freedom.
Donald Trump, who announced the launch of his 2024 presidential bid in November 2022, reaffirmed his stance against a CBDC, aligning with his dedication to safeguarding Americans from perceived government overreach. This announcement follows a similar pledge by Florida Governor Ron DeSantis, another Republican candidate, who promised to "nix" CBDCs on his first day as president.
As the 2024 presidential election approaches, candidates are expressing their views on cryptocurrency-related issues. Former Securities and Exchange Commission enforcer John Reed Stark recently suggested that every presidential contender appoint an internal crypto czar to serve as the focal point and spokesperson for crypto-related matters. The crypto movement is expected to play a role in shaping candidates' positions and gaining support in the upcoming election.
(MARTIN YOUNG, COINTELEGRAPH, 2024)