🚨Trump Pledges to Block Central Bank Digital Currency‼️

Trump has vowed to block the creation of a central bank digital currency (CBDC) if he is re-elected.

In a significant move that has captured the attention of the financial and political sectors, former President Donald Trump has vowed to block the creation of a central bank digital currency (CBDC) if he is re-elected.

This announcement was made during a speech at a Libertarian Convention, where Trump made his stance on the issue clear, stating, "I will never allow the creation of a central bank digital currency."

The speech, which has since been widely discussed and reported on, signals Trump's opposition to the concept of a CBDC, a form of digital currency issued by a central bank that would serve as a digital version of a country's national currency.

CBDCs are being explored by many countries as a potential means of modernizing payment systems and improving financial inclusion.

Trump's opposition to a CBDC is not new. In previous instances, he has expressed skepticism about the security of such a currency, suggesting it could be a "very dangerous" development.

He has also compared the creation of a CBDC to a form of "government tyranny," warning it would give the federal government the ability to "take your money."

This stance aligns with Trump's broader skepticism towards digital currencies, including Bitcoin. In the past, he has denounced the value of Bitcoin, claiming it has no value and is made out of thin air.

The Biden administration has taken a different approach, with an executive order in 2022 directing government agencies to develop policy recommendations and a potential framework for regulating digital assets.

However, the process for developing a CBDC could take years, with Federal Reserve Chair Jerome Powell emphasizing that it has not made a decision on its feasibility and is still assessing the public’s appetite for such a system.

Trump's pledge to block a CBDC if re-elected adds another layer to the ongoing debate over the future of digital currencies and their role in the global financial system.

It remains to be seen how this stance will influence the broader conversation and potential policy decisions in the future.