Trump Vows to Halt CBDC Development in Presidential Campaign Address

In a recent campaign speech in Portsmouth, New Hampshire, former U.S. President and current presidential candidate Donald Trump made a firm commitment to prevent the Federal Reserve from introducing a central bank digital currency (CBDC) in the United States.

A Strong Vow Against CBDC

During the speech on Jan. 17, Trump asserted, “Tonight I’m making another promise to protect Americans from government tyranny. I will never allow the creation of a Central Bank Digital Currency.” The audience responded with enthusiastic applause, prompting Trump to acknowledge their understanding, stating, “I didn’t know you know so much… New Hampshire, very smart people.”

Concerns Over Government Control

Trump expressed concerns about the potential ramifications of a CBDC, emphasizing that such a currency would grant the federal government absolute control over citizens' money. He warned that the government could discreetly seize funds, leaving individuals unaware of the transaction. Trump deemed this a significant threat to freedom and pledged to prevent it from being implemented in America.

Trump's Political Agenda

Donald Trump, who contested the results of the 2020 presidential election, officially announced his bid for the 2024 presidential race in November 2022. The 60th quadrennial U.S. presidential election is scheduled for Nov. 5, 2024.

Cryptocurrency's Role in 2024 Election

Former Securities and Exchange Commission enforcer John Reed Stark, on Jan. 17, suggested that the cryptocurrency movement could play a pivotal role in the upcoming 2024 presidential election. Stark proposed that every presidential contender should appoint an internal Crypto Czar to serve as the focal point and spokesperson for cryptocurrency-related matters.

In summary, Donald Trump's strong stance against the creation of a CBDC has become a focal point of his presidential campaign. As the 2024 election approaches, the role of cryptocurrency in shaping political agendas and strategies is gaining attention, with suggestions for candidates to embrace crypto expertise within their teams.