In a firm stance, Trump declares his resolve to prevent the implementation of a CBDC

Donald Trump, the former President of the United States and current presidential candidate, revisited the topic of central bank digital currencies (CBDCs) during a rally in Laconia, New Hampshire, on Jan. 22. He credited Vivek Ramaswamy, the former Republican presidential candidate, for bringing up the issue. Ramaswamy, who withdrew from the race after a disappointing performance, was recognized by Trump as the sole candidate with a crypto framework in his program.

In a firm stance, Trump declares his resolve to prevent the implementation of a CBDC

During the rally, Trump disclosed that Ramaswamy had urged him to raise the question of addressing a potential CBDC in the United States. Trump, after admitting that he hadn’t liked Ramaswamy until defeating him, reiterated his recent assertion that he would never permit the creation of a CBDC.

This marks Trump’s second mention of CBDCs, the first occurring during a campaign speech in Portsmouth, New Hampshire, on Jan. 17. At that time, Trump declared, ‘I will never allow the creation of a central bank digital currency,’ emphasizing his belief that such a currency would grant the federal government ‘absolute control’ over citizens’ money.

Trump firmly opposes the creation of a CBDC and attributes his stance to Vivek Ramaswamy

Both former candidates have now halted their campaigns. Ramaswamy withdrew on Jan. 16, throwing his support behind Trump. DeSantis officially ended his bid on Jan. 21 after suffering a significant 21-point defeat to Trump in the Iowa caucuses. Trump, who has openly ridiculed DeSantis in recent months, received the endorsement of the defeated politician.

On Jan. 19, U.S. Representative Tom Emmer expressed his backing for Trump’s commitment to combat central bank digital currencies (CBDCs). Emmer stated that he looks forward to collaborating with Trump in the fight ‘against the expanding government surveillance state.’ Emmer has consistently advocated for digital assets and has a track record of challenging the regulatory approach of the U.S. Securities and Exchange Commission and its Chair, Gary Gensler.