Trump reiterates opposition to central bank digital currencies
Donald Trump has reinforced his opposition to central bank digital currencies (CBDCs). He argued that CBDCs would threaten freedom and give the government absolute control over people’s money.
The digital asset issues reemerged in the US presidential election race. The highest polling candidate of the Republican Party for the November election, and the former US President Donald Trump, has reiterated his strong opposition to central bank digital currencies (CBDCs) during a rally in Laconia, New Hampshire.
Former president Trump, firmly stated that he would never allow the creation of a CBDC, citing concerns over the potential threat to personal freedom and the government’s absolute control over individuals’ money. He warned that a central bank digital currencies would give the federal government the power to seize money without people even realizing it.
Trump’s stance on CBDCs has garnered support, with two crypto-friendly candidates, Vivek Ramaswamy and Ron DeSantis, suspending their campaigns and endorsing Trump. This suggests that there is substantial support among Republican primary voters for Trump’s position on CBDCs.
The absence of pro-crypto candidates may lessen the focus on digital assets in the presidential race, according to CoinDesk. It remains to be seen how extensively the topic will be discussed throughout the campaign.
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