News - Trump again lashes out at CBDCs

By Sam Fröling

Trump again lashes out at CBDCs

Trump again lashes out, at CBDCs

During a Republican campaign, Trump reaffirms his opposition to CBDCs is. What happened?

At a Republican campaign event in Laconia, New Hampshire, Donald Trump reiterated his opposition to CBDCs (Central Bank Digital Currencies). Trump had previously discussed the issue in a campaign speech on Jan. 17 and voiced his critical opinion. "Vivek wanted this: I will never allow the creation of a central bank digital currency," Trump said, referring to candidate Vivek Ramaswamy, who is considered crypto-friendly. The latter recently suspended his election campaign after a disappointing result in the state of Iowa.

Trump stressed that a central bank digital currency would give the government absolute control over citizens' money. An assertion in line with his general concerns about government surveillance. At the same time, Florida Governor Ron DeSantis, another CBDC critic, ended his campaign and spoke in favor of Trump. Despite the cancellation of the campaigns of Ramaswamy and DeSantis, the CBDC issue remains relevant.

The impact of the negative attitude is still unclear

It is still unclear how Republicans' rather negative attitude toward CBDCs might affect a more general regulation of cryptocurrencies in the US. So far, Trump has not spoken out positively about Bitcoin or other crypto coins. For now, however, the importance of CBDCs in the public debate could diminish, as remaining Trump rival Nikki Haley has yet to put the topic on her campaign agenda.

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