During a campaign speech in New Hampshire, former President Donald Trump vowed to prevent the creation of a U.S. central bank digital currency (CBDC) if reelected.
During a campaign speech in New Hampshire, former President Donald Trump vowed to prevent the creation of a U.S. central bank digital currency (CBDC) if reelected, calling it a "dangerous threat to freedom." He warned that a CBDC would give the federal government "absolute control over your money" and the ability to seize funds without individuals' knowledge.
Trump said: “To protect Americans from government tyranny, as your President, I will never allow the creation of a central bank digital currency.”
Trump's stance marks a shift from his previous skepticism towards cryptocurrencies, as he seeks to attract pro-crypto voters. He has released numerous NFT collections and cashed out millions in Ethereum from their sales. Trump was joined on stage by Vivek Ramaswamy, a crypto-friendly former Presidential candidate who dropped out of the race to back Trump.
The former President's pledge to block CBDCs aligns with the views of other Republican candidates, including Florida Governor Ron DeSantis. DeSantis has pledged to "end Biden's war on Bitcoin" and banned CBDCs in the state. He has also announced that Florida would accept Bitcoin as payment for state taxes from businesses.
The issue of cryptocurrencies and CBDCs has become a hot-button topic on the campaign trail. As the country enters the 2024 election cycle, candidates are increasingly taking positions on these issues to appeal to voters.
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