Donald Trump: “There Will Never be a CBDC in the U.S. if I am Elected”
28.07.2024 0:26 2 min. read Alexander Stefanov
Trump reiterated his position against a central bank digital currency (CBDC) in the United States during the 2024 Bitcoin conference in Nashvile.
Donald Trump’s positive change of opinion towards Bitcoin and crypto has been all over the news this year. Although it is most likely because he wants to attract more voters, rather than help the development of the technology, his endorsment is very much welcome by the whole community.
While giving his speech in Nashvile, he made some interesting promises. One of them was that he would fire the current SEC Chairman if elected. Gary Gensler has been known for his “crusade” against the crypto space and with him out of the picture, things could probably get a lot better.
Another thing that Trump said, which resonated with crypto enthusiasts is that if he is elected, there will never be a central bank digital currency (CBDC) in the United States.
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He also opposed the issuance of CBDC during a speech in Portsmouth, New Hampshire a while back. This stance aligns with the general sentiment following last September’s Congressional debate, which highlighted the significant challenges a CBDC would face in gaining approval. The majority of Republicans, along with some Democrats, are against it.
Trump assured the audience that, as President, he would prevent the creation of a CBDC, arguing that such a currency would grant the federal government excessive control over personal finances. He warned that the government could potentially seize money without citizens’ knowledge, posing a severe threat to individual freedoms.
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Total b/s, trump can’t fire gensler. It doesn’t work that way. This was just a hijacking of a seminar for personal political gain. And the market knows that. In reality the pressure on Harris to soften the dem stance on crypto is more likely to prevail in the long run.