Donald Trump Stands Firm Against CBDCs

Donald Trump credited former presidential candidate Vivek Ramaswamy for raising the topic of central bank digital currencies (CBDCs).

Donald Trump, who is currently running for president of the United States, has again brought up the subject of central bank digital currencies (CBDCs).

He has stated that he is “giving full credit” to Vivek Ramaswamy, a former presidential candidate for the Republican Party who withdrew from the race after a disappointing performance.

During the rally that took place in Laconia, New Hampshire, on January 22, Trump informed the audience that Ramaswamy, who is the only presidential contender who has included a crypto framework in his campaign, had requested that he bring up the issue of addressing the possibility of a CBDC in the United States once more.

After briefly admitting that he had an unfavorable opinion of Ramaswamy before his victory over him, Trump reiterated his recent assertion that he would never permit the CBDC to exist.

The first time that Donald Trump referred to the CBDC was on January 17, while he was doing a campaign rally in Portsmouth, New Hampshire.

“I will never allow the creation of a central bank digital currency,” the former president stated at the time, adding that such a currency would give the federal government “absolute control” over the money that residents had in their possession.

Vivek Ramaswamy and Ron DeSantis, both presidential candidates, discussed the subject of cryptocurrency during their campaigns. Previously, Donald Trump was not known for taking a nuanced stance on cryptocurrency, except for a few disparaging statements he made about Bitcoin while governor of Florida.

At this time, both former candidates have put their campaigns on hold. On January 16, Ramaswamy resigned from his position and endorsed Trump.

Donald Trump defeated DeSantis by a significant margin of 21 points during the Iowa caucuses, resulting in the official termination of his campaign on January 21.

DeSantis has also acknowledged that he is supporting Trump, who has been making fun of the politician on multiple occasions over the past few months.

Representative Tom Emmer of the United States of America stated on January 19 that he welcomes the opportunity to collaborate with President Trump “against the expanding government surveillance state.”He also indicated that he favors Trump’s vow to combat CBDCs.

Emmer has been vocal in his support of digital assets on numerous occasions, and he has a history of opposing the regulatory and enforcement strategy taken by the United States Securities and Exchange Commission and its Chair, Gary Gensler.