Many countries are considering digital currencies as more people shift from physical cash to online payments. The U.S. is actively exploring the idea of launching its own Central Bank Digital Currency (CBDC) in the ongoing discussions about modernizing payment systems.
In his recent campaign speech in Portsmouth, New Hampshire, Donald Trump explicitly stated that, if elected, he would prevent the U.S. Federal Reserve from introducing a Central Bank Digital Currency (CBDC). This was a key point in his planned remarks for the event.
Trump Voices Concerns About CBDC and Receives Bitcoin Endorsement
In recent remarks obtained by The Post Millennial, former President Donald Trump expressed apprehensions about the risks associated with the introduction of a Central Bank Digital Currency (CBDC). Trump cited concerns about debanking and potential political misuse, firmly opposing the development of a CBDC due to worries about its impact on economic stability.
These remarks coincided with an endorsement from Vivek Ramaswamy, a presidential candidate supportive of Bitcoin, who endorsed Trump and withdrew from the presidential race. It’s noteworthy that during his presidency, Trump had been critical of Bitcoin and other cryptocurrencies. In a July 2019 tweet, he questioned the intrinsic value of cryptocurrencies, highlighting their susceptibility to extreme price volatility and potential use in illegal activities such as the drug trade.
Despite Trump’s previous reservations about cryptocurrencies, House Majority Whip Tom Emmer (R-MN) suggested the possibility of a more crypto-friendly policy emerging if Trump were to be reelected. Interestingly, Trump has ventured into the world of non-fungible tokens (NFTs), releasing three collections since leaving office.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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