Trump strongly opposes CBDC during presidential campaign
Key Takeaways
- As a presidential candidate, Donald Trump is strongly opposed to the establishment of a central bank digital currency in the United States.
- Ron DeSantis, also a presidential candidate, agrees with Trump’s views on CBDCs, but is lagging in the race.
- The 2024 presidential election has seen increased interest in cryptocurrency policy, with each campaign emphasizing the need for a “cryptocurrency emperor.”
Former President donald trumpThe current presidential candidates for the 2024 election are: Takes a firm stance on the introduction of central bank digital currency (CBDC) in America.
In a campaign speech in Portsmouth, New Hampshire. trump promised to his supporters He would “never allow” the Federal Reserve to create such a currency.It is structured as a stance against government overreach.
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In particular, following his response to rapturous applause, Donald Trump said:
Tonight I make another promise: to protect Americans from government tyranny. I will never allow the creation of a central bank digital currency.
Trump has expressed concerns about the potential risks posed by CBDCs. Could lead to unprecedented government control It’s about personal finances.
Such a currency would give the federal government, our federal government, absolute control over your money. <...> They can take your money and you won’t even know it’s gone.
This anti-CBDC Fellow Republican and Florida Governor Ron DeSantis shares this sentiment., he also expressed opposition to central bank digital currencies. However, DeSantis recently suffered a setback, falling behind Trump by more than 10 points in the Iowa Republican primary held on January 15.
Policies focused on cryptocurrency It was also a key part of Vivek Ramaswamy’s campaign., another Republican contender. But he did less well in the Iowa caucuses, getting about 8% of the vote. Ramaswamy withdrew from the race. And I officially supported Trump.
Highlighting the growing importance of cryptocurrency issues in American politics, former U.S. Securities and Exchange Commission Commissioner John Reed Stark suggested: all presidential candidates A “Crypto Czar” must be appointed. Those in this position will serve. Spokesperson for cryptocurrency-related issues Within the campaign, further integrate digital currency policy into national political discourse.
Trump is positioning himself at an important intersection of technology, finance, and politics through his steadfast opposition to the creation of CBDCs. His stance resonates with voters concerned about government overreach on financial issues, especially emerging technologies such as digital currencies.
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