Trump promises to block CBDC
finextra.comSpeaking at a campaign stop in New Hampshire, the former president and Republican party leadership race front-runner told a crowd: "As your president, I will never allow the creation of a central bank digital currency."
He continued: "Such a currency would give a federal government, our federal government, 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."
Trump's rival for the Republican nomination has previously taken a similar stand, insisting: “If I am the president, on day one, we will nix central bank digital currency. Done. Dead. Not happening in this country.”
The Federal Reserve has been investigating the pros and cons of a digital dollar for several years, publishing a discussion paper on the issue in January 2022.
Fed chair Jerome Powell has remained noncommittal on the chances of a CBDC but other governors have made clear their scepticism, with one, Christopher Waller, saying the idea "remains a solution in search of a problem".
North of the border, Canada's Conservative party leader has also said he would ban the country's central bank from issuing a CBDC if his party wins the upcoming general election.
