Trump ‘will never allow’ CBDC, gives ‘full credit’ to Vivek Ramaswamy

Former President of the United States and current presidential candidate, Donald Trump, has once again mentioned the topic of central bank digital currencies (CBDCs), “giving full credit” to Vivek Ramaswamy, the former presidential candidate for the Republican Party who dropped out of race after a disappointing 

During the rally in Laconia, New Hampshire, on Jan. 22, Trump told the audience that Ramaswamy — the only presidential candidate with a crypto framework in his program  — asked him to raise once again the question of tackling a potential CBDC in the United States. After a brief confession that he didn’t like Ramaswamy until he defeated him, Trump repeated his recent claim that he would never allow the CBDC.

The first time Trump mentioned the CBDC was during a campaign speech in Portsmouth, New Hampshire, on Jan. 17. At the time, the former president said, “I will never allow the creation of a central bank digital currency,” adding that such a currency would give the federal government “absolute control” over citizens’ money. 

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While Trump was not previously known for any nuanced stance on crypto — besides some negative comments about Bitcoin during his presidency — Vivek Ramaswamy and Florida Governor Ron DeSantis took up the subject in their presidential campaigns.

Trump saying he will never allow a CBDC and crediting @VivekGRamaswamy .

Wait until he informs him on #bitcoin … pic.twitter.com/DgDJuFLYmT

— Peter McCormack ‍☠️ (@PeterMcCormack) January 23, 2024

Both ex-candidates have now suspended their campaigns. Ramaswamy dropped out  on Jan. 16, endorsing Trump. DeSantis officially ended his run on Jan. 21 after losing by a massive 21 points to Trump during the Iowa caucuses. DeSantis has also confirmed his endorsement of Trump, who has repeatedly mocked the politician in the recent months.

On Jan. 19, U.S. Representative Tom Emmer expressed his support for Trump’s promise to fight CBDCs, claiming that he looks forward to working with Trump “against the expanding government surveillance state.” Emmer has spoken in favor of digital assets on many occasions and has a history of pushing back against the regulation by enforcement approach from the U.S. Securities and Exchange Commission and its Chair, Gary Gensler.

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