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Donald Trump’s CBDC Stance Now Reaffirmed Though Crypto Support Strengthens

Donald Trump's CBDC Stance Now Reaffirmed Though Crypto Support Strengthens

Key Points:

Former US President Donald Trump vows to block the creation of a Central Bank Digital Currency (CBDC).
Donald Trump’s CBDC stance aligns himself with critics, including Florida Governor Ron DeSantis, amidst growing political discourse on the issue.
Despite past skepticism, Trump pledges support for the US’s dominance in cryptocurrency.

Former US President Donald Trump made a bold assertion during a recent electoral event, declaring his staunch opposition to establishing a Central Bank Digital Currency (CBDC).

Donald Trump's CBDC Stance Now Reaffirmed Though Crypto Support Strengthens 2

Donald Trump’s CBDC Stance: Promises to Halt Release

Trump expressed concerns about the potential infringement on individual freedoms posed by CBDCs, aligning himself with other critics of this emerging financial technology.

In a public speech, Trump emphasized his determination to prevent the creation of a CBDC, stating, “I will keep Elizabeth Warren and her goons away from your Bitcoin, and I will never allow the creation of a Central Bank Digital Currency (CBDC).” Donald Trump’s CBDC stance echoes the sentiments of Florida Governor Ron DeSantis and adds Trump’s voice to the growing chorus of CBDC skeptics in the political arena.

Along with Donald Trump’s CBDC stance, a report from Bank of America in November expressed skepticism about the short-term issuance of a digital US dollar by the Federal Reserve. During his campaign speech in Laconia, New Hampshire, in January, Trump also voiced opposition to digital currencies issued by individual central banks.

Former President Pledges Crypto Support

Additionally, he pledged to support the US’s dominance in the crypto space, stating, “I will ensure that the future of crypto and Bitcoin will be made in the USA…I will support the right to self custody to the nation’s 50 million crypto holders. “

It’s worth noting that despite his previous criticisms of cryptocurrencies, Trump disclosed ownership of over $2.5 million in Ether in August 2023. Moreover, his presidential campaign announced plans to accept cryptocurrency donations to mobilize a “crypto army” leading up to Election Day.

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.