In a recent rally at Laconia, New Hampshire, former U.S. President Donald Trump reiterated his opposition to the concept of central bank digital currencies (CBDCs).
In a recent statement, former United States President Donald Trump reiterated his firm opposition to Central Bank Digital Currencies (CBDCs), vowing to prevent their launch. This stance aligns him with Vivek Ramaswamy, a pro-crypto candidate who has just suspended his campaign. Trump’s declaration on January 18th marks a significant moment in the ongoing debate around the future of digital currencies in the US financial system.
I will never allow the creation of a Central Bank Digital Currency.
Donald Trump
JUST IN: 🇺🇸 President Trump says Vivek Ramaswamy told him about the dangers of a CBDC and promises to never allow it if elected. pic.twitter.com/JKjAGY18F2
— Watcher.Guru (@WatcherGuru) January 23, 2024
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Trump explained that his objection is motivated a deep concern for personal liberty. He believes that such a system could limit personal freedoms.
This would be a dangerous threat to freedom, and I will stop it from coming to America. […] 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.
Donald Trump
The campaign trail has seen similar sentiments from other Republican candidates. Florida Governor Ron DeSantis, another critic of CBDCs, also suspended his campaign and threw his support behind Trump. “It’s clear to me that a majority of Republican primary voters want to give Donald Trump another chance,” Desantis said, committing to his pledge to support the Republican nominee. The recent withdrawals of both DeSantis and Ramaswamy from the primary race suggest a potential shift in the political climate surrounding crypto discourse.
Trump has shown a two-faced stance towards cryptocurrencies. Back in 2019, he said that Bitcoin (BTC) “seems like a scam” and explained that he does not “like it because it’s another currency competing against the dollar.”
At the same time Trump had no issues against capitalizing on blockchain technology and non-fungible tokens (NFTs). In December 2023, he released an NFT collection called the ‘Mugshot Edition,’ and this was not even the first NFT collection that the former U.S. President has launched.
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