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Donald Trump Pledges to “never allow” CBDC Creation in US

Donald Trump Pledges to “never allow” CBDC Creation in US

Former U.S. president and presidential candidate, Donald Trump, has pledged to “never allow” the Federal Reserve to create a central bank digital currency (CBDC) in the United States. 

Trump made this statement during a campaign speech in Portsmouth, New Hampshire, emphasizing his commitment to protecting Americans from what he perceives as government overreach. 

Donald Trump stated, “I will never allow the creation of a Central Bank Digital Currency.”

He emphasized the potential dangers of a CBDC, stating that it would give the federal government absolute control over individuals’ money, allowing them to take funds without the knowledge of the account holders. He framed the issue as a threat to freedom and pledged to prevent the introduction of a CBDC in the United States.

Last year, a similar sentiment expressed by Florida Governor Ron DeSantis, who is also a Republican candidate. DeSantis pledged to “nix” CBDCs on his first day as president if elected. However, it’s worth noting that DeSantis has faced electoral challenges, including losing to Trump in a key battleground state.

Vivek Ramaswamy, a Republican Party contender who previously proposed a crypto-focused policy framework, has withdrawn from the race following the Iowa Caucus results, where he secured approximately 8% of the vote. Ramaswamy has now pledged his support to former President Trump.

The mention of the crypto movement playing a role in the 2024 presidential election came from John Reed Stark, a former Securities and Exchange Commission enforcer, suggesting that cryptocurrency-related policies and positions could become significant in future political campaigns.

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