Trump Expected to Ban CBDC in Bold Crypto Policy Shift
21.01.2025 14:00 1 min. read Alexander Zdravkov
The crypto industry is pushing for bold moves from President Donald Trump, calling for an executive order to block the development of a U.S. central bank digital currency (CBDC), often referred to as the Digital Dollar.
This demand aligns with Trump’s campaign promise last year to reject the concept. Additionally, there’s growing advocacy for establishing a national Bitcoin reserve to strengthen the economy.
Fox Business journalist Eleanor Terret reports that Trump may soon unveil two major cryptocurrency-related executive orders. One is rumored to create a dedicated crypto council to advise on the sector, while the other could prohibit the creation of a CBDC. While specific details are scarce, the crypto community is closely watching for announcements following a council meeting scheduled for Thursday.
Trump’s opposition to a U.S. CBDC reflects his broader support for Bitcoin. He has previously suggested that using Bitcoin as a reserve asset could help tackle the nation’s massive $36 trillion debt, a stance that has garnered backing from notable industry figures.
While immediate action on crypto was anticipated, the administration has yet to deliver on these promises. The industry remains hopeful that Trump will prioritize policies supporting Bitcoin over a federally controlled digital currency.
Advocates like Senator Cynthia Lummis and influential leaders in the space see Bitcoin as a more strategic and decentralized financial tool, distancing it from government-controlled alternatives. As decisions loom, the sector is bracing for potential game-changing developments.
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