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Donald Trump Renews Opposition to CBDCs, Vows to Prevent Their Launch

In a recent rally at Laconia, New Hampshire, former U.S. President Donald Trump once again expressed his strong opposition to the concept of Central Bank Digital Currencies (CBDCs). Trump, who has consistently been critical of CBDCs, declared his commitment to preventing their launch, citing concerns about personal liberty and the potential for absolute government control over individuals’ money.

During the rally on January 18th, Trump emphasized the perceived threat to freedom posed by CBDCs, stating that such a currency would grant the federal government unprecedented control over individuals’ finances. He vowed to take action to prevent the creation of a Central Bank Digital Currency, framing it as a dangerous development that could undermine personal freedoms.

This latest statement by Trump aligns him with Vivek Ramaswamy, a pro-crypto candidate who recently suspended his campaign. Ramaswamy shares Trump’s opposition to CBDCs and has been vocal about the potential risks they pose to individual liberties. Trump’s announcement comes at a crucial time in the ongoing debate surrounding the future of digital currencies within the U.S. financial system.

Notably, Trump’s stance against CBDCs has found support among other Republican candidates, including Florida Governor Ron DeSantis, who also recently suspended his campaign. DeSantis, a critic of CBDCs, pledged his support to Trump, signaling a potential shift in the political climate surrounding discussions about cryptocurrency.

While Trump has historically expressed skepticism towards cryptocurrencies like Bitcoin, referring to them as a potential scam, he has demonstrated a more favorable stance towards blockchain technology and non-fungible tokens (NFTs). In December 2023, Trump launched an NFT collection called the ‘Mugshot Edition,’ showcasing a nuanced approach to the broader crypto landscape.

The evolving discourse around CBDCs and cryptocurrencies within the political arena highlights the complex and dynamic nature of the intersection between technology, finance, and governance.

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