Trump Reiterates Opposition to CBDCs, Backed by Withdrawn Candidates and Congressman
Summary:
Former U.S. President Donald Trump reiterated his opposition to Central Bank Digital Currencies (CBDCs) during a rally in New Hampshire, crediting the idea to recently withdrawn Republican candidate Vivek Ramaswamy. Trump previously voiced this stance during a campaign rally, expressing concern over the federal government gaining excessive control over citizens' money. Both Ramaswamy and fellow candidate Ron DeSantis who introduced the crypto topic into presidential campaigns have since endorsed Trump after suspending their campaigns. U.S. Representative Tom Emmer also backed Trump's anti-CBDC stance.
Donald Trump, the former U.S. President and now a presidential candidate, once again addressed the subject of Central Bank Digital Currencies (CBDCs). He lauded Vivek Ramaswamy, a fellow ex-Republican contender who suspended his campaign recently. At a gathering in Laconia, New Hampshire on January 22, Trump relayed Ramaswamy's proposition to reconsider the potential CBDC in the U.S. Despite initial indifference towards Ramaswamy, Trump reiterated his firm stance of disallowing CBDCs. Trump first voiced this opinion during a campaign rally in Portsmouth, another New Hampshire city, on January 17, reasoning that a CBDC would grant the federal government unchecked authority over citizens' finances.
Despite Trump’s previously expressed disapproval for cryptocurrency, it was Ramaswamy and Florida governor Ron DeSantis who introduced the topic to the presidential discourse. Both events were documented by Peter McCormack, a known cryptocurrency enthusiast, on Twitter. Both Ramaswamy and DeSantis have since withdrawn from the presidential race, pledging their support to Trump. Ramaswamy did so on January 16, while DeSantis bowed out after losing by 21 points to Trump in the Iowa primary election on January 21.
Adding to this, United States Representative Tom Emmer voiced his approval for Trump's rejection of CBDCs on January 19. Emmer, who has frequently endorsed digital assets and tried to limit regulatory overreach by the U.S. Securities and Exchange Commission and its Chair, Gary Gensler, expressed his eagerness to assist Trump in combating the expansive government’s surveillance regime.
Published At
1/23/2024 2:17:44 PM
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