Donald Trump Vows to Ban CBDCs in the US if Elected

By Aaron Feuerstein January 19, 2024 In CBDCs, United States
  • Former President Donald Trump pledged to oppose the creation of a CBDC, citing it as a threat to freedom and a tool for government overreach.
  • Ex-presidential candidate and crypto advocate Vivek Ramaswamy, after ending his campaign, is rumoured to potentially join Donald Trump.
  • This has stirred up excitement in the crypto community about the prospect of a pro-crypto influence in Trump’s potential administration.

“A Dangerous Threat to Freedom”

During a speech in New Hampshire, the former President of the United States spoke out against the creation of a digital dollar.

Tonight, I am also making another promise to protect Americans from government tyranny. As your president, I will never allow the creation of a central bank digital currency.

Donald Trump

Under Joe Biden’s administration, the US started conducting research into digital currencies, including a Central Bank Digital Currency (CBDC), although no decisions have been made public.

Trump’s opponent, Florida Governor Ron DeSantis, has also voiced his opposition to a CBDC and preemptively banned it in his home state of Florida.

Trump vowed to protect Americans from the overreach of government, saying that a CBDC would give it absolute control, including taking people’s money away from them.


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.

Donald Trump

Will Crypto Friendly Ex-Candidate Join Trump?

After Vivek Ramaswamy, a favourite among the crypto crowd, dropped out of the presidential race, it appears he already has an influence on Donald Trump. Ramaswamy, one of the only Republican candidates with a crypto plan, suspended his race for president Monday US Time after the Iowa caucus.

Although Trump has not formally made any announcements regarding his plans if he wins the nomination, rumours about Ramaswamy running for vice president have excited the crypto community, as evidenced by comments from Messari CEO Ryan Selkis.

Vivek is now the most influential libertarian in the country. And he’s pro crypto. Trump knows he’s an asset.

Ryan Selkis

While Ramaswamy has voiced his support for Trump, it’s not clear if he will join the former president’s team, despite Trump saying, “He’ll be working with us for a long time.”

Trump himself is no stranger to the world of crypto and NFTs, having sold his mugshot and other collectibles as non-fungible tokens. He even sold pieces of the suit he wore – which was of course ‘a great suit, a really good suit.’

Aaron Feuerstein

Aaron Feuerstein

Aaron Feuerstein is a freelance writer based in Melbourne. His focus is on decentralised finance and the regulatory space surrounding blockchain. He holds a Master's in Accounting. When he is not studying the latest legal case, he enjoys his time as a modest but eager hobby cook.

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