Trump: No Allowance for Fed to Issue CBDC, Federal Government to Control Your Money
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Trump: Will Never Allow the Federal Reserve to Issue CBDC
A Few Opponents of CBDC Appear
Trump: Will Never Allow the Federal Reserve to Issue CBDC
In his campaign speech in New Hampshire on January 17, Trump emphasized the potential risks of CBDC in terms of bank disintermediation and political weaponization:
As your president, I will never allow the issuance of CBDC. This currency would give the federal government absolute control over your money, and you will never know when your money will disappear. This would be a dangerous threat to freedom, and I will prevent it from coming to the United States. We will also take strong protective measures to prevent banks and regulatory agencies from depriving you of your bank account based on your political stance. This situation will never happen while I am your president.
As Trump finished speaking, there was a burst of cheers from the audience, and Trump praised the crowd for being very intelligent.
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A Few Opponents of CBDC Appear
Although the concept of CBDC has been advocated for many years, progress has been relatively slow. Last year, Federal Reserve Chairman Jerome Powell also stated that CBDC is not part of the near-term plans.
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Powell emphasized the Federal Reserve’s role in regulating stablecoins at the federal level, and CBDC is not part of the near-term plans
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Trump’s statement is similar to the reason why Florida Governor Ron DeSantis requested a ban on CBDC in the state in early 2021. He claimed that CBDC is a means for the Biden administration to militarize the financial sector and track all global transactions, leaving no privacy for the public.
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Governor passes legislation to fully ban CBDC in Florida as a preemptive measure
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CBDC
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Central Bank Digital Currency
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Further Reading
Governor passes legislation to fully ban CBDC in Florida as a preemptive measure
LINE’s Latest Blockchain Layout: Assisting Countries in Developing CBDC Blockchain Platforms, Targeting Latin America and Africa
