April 19, 2024
Trump Firm on CBDC Opposition, Credits Ramaswamy for Influence
Latest Cryptocurrency News

Trump Firm on CBDC Opposition, Credits Ramaswamy for Influence

In a recent rally in Laconia, New Hampshire, former President Donald Trump once again addressed the topic of central bank digital currencies (CBDCs), offering full credit to Vivek Ramaswamy, a former presidential candidate for the Republican Party. Ramaswamy, who dropped out of the race after a disappointing performance, played a pivotal role in bringing the issue of CBDCs to the forefront of Trump’s attention.

During the rally, Trump acknowledged Ramaswamy as the only presidential candidate with a comprehensive crypto framework in his program. According to Trump, Ramaswamy requested him to raise the issue of addressing a potential CBDC in the United States. Despite a candid admission that he didn’t like Ramaswamy until defeating him, Trump reiterated his recent claim that he would never allow the creation of a CBDC.

This is not the first instance of Trump expressing his opposition to CBDCs. The former president initially broached the subject during a campaign speech in Portsmouth, New Hampshire, on January 17. At that time, he asserted, “I will never allow the creation of a central bank digital currency,” citing concerns about the federal government gaining “absolute control” over citizens’ money.

While Trump was not previously recognized for a nuanced stance on cryptocurrency, the involvement of Vivek Ramaswamy and Florida Governor Ron DeSantis in their respective presidential campaigns brought the CBDC issue to the forefront. Both Ramaswamy and DeSantis have since suspended their campaigns, with Ramaswamy endorsing Trump after dropping out on January 16. DeSantis officially ended his run on January 21, following a significant defeat to Trump during the Iowa caucuses. Despite the political rivalry, DeSantis has also confirmed his endorsement of Trump.

U.S. Representative Tom Emmer expressed his support for Trump’s commitment to opposing CBDCs on January 19. Emmer stated that he looks forward to working with Trump in the fight against the expanding government surveillance state. Emmer, known for his advocacy of digital assets, has consistently opposed the regulatory approach of the U.S. Securities and Exchange Commission and its Chair, Gary Gensler.

The convergence of political figures against CBDCs, as seen in Trump’s reaffirmation and Emmer’s support, underscores the growing significance of digital currencies in the political landscape. As the debate around CBDCs continues, it remains a topic that draws attention from both politicians and crypto advocates alike.

Image: Wallpapers.com

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