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Donald Trump vows to ‘never allow’ creation of a CBDC in the United States

U.S. presidential candidate and former president Donald Trump has vowed to “never allow” the Federal Reserve to create a central bank digital currency (CBDC) in the United States. 

The pledge came during a campaign speech in Portsmouth, New Hampshire on Jan. 17 where the former president of the United States said: “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 declaration was met with rapturous applause to which Trump replied “I didn’t know you know so much … New Hampshire, very smart people,” before continuing to explain:

“Such a currency would give a federal government, our federal government, the absolute control over your money […] they could take your money and you wouldn’t even know it was gone.”

“This would be a dangerous threat to freedom and I will stop it from coming to America,” he said.

Donald Trump, who tried to overthrow the 2020 presidential election results, announced the launch of his 2024 presidential bid in November 2022. The 60th quadrennial U.S. presidential election will be held on Nov. 5, 2024.

Last year, Florida governor and republican candidate Ron DeSantis made a similar pledge, promising to “nix” central bank digital currencies on his first day as president. 

Earlier this week, Cointelegraph reported that Ron Desantis lost to Trump in a key battleground state of Iowa on Jan. 15. The Florida governor has largely polled behind Trump by more than 10 points since launching his campaign.

Vivek Ramaswamy, a contender for the Republican Party nomination who proposed a crypto-focused policy framework, dropped out of the race on Jan. 15 following the results of the Iowa Caucus, where he finished with roughly 8% of the vote. He has officially placed his support behind Donald Trump.

On Jan. 17, former Securities and Exchange Commission enforcer John Reed Stark said the crypto movement could hold the key to the 2024 presidential election.

“Every presidential contender should immediately appoint an internal Crypto Czar to serve as the crypto-focal point and crypto-spokesperson for that candidate.”

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