Former United States President and current presidential candidate Donald Trump once again brought up the topic of central bank digital currencies (CBDCs), “paying tribute” to Vivek Ramaswamy, who bowed out of the Republican presidential primary a week ago.
During a rally in Laconia, New Hampshire, on January 22, Trump told the audience that Ramaswamy, the only presidential candidate with a cryptocurrency structure on his platform, asked him to once again raise the issue of addressing a potential CBDC in the US after briefly acknowledging that that he didn't like Ramaswamy until he defeated him, Trump repeated his recent statement that he would never allow a CBDC.
Trump first mentioned CBDC during a campaign speech in Portsmouth, another New Hampshire city, on January 17. At the time, he said, “I will never allow the creation of a central bank digital currency,” explaining that such a currency would give the federal government “absolute control” over citizens’ money.
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While Trump was not known to have any detailed stance on cryptocurrencies, other than some negative comments about Bitcoin during his presidency, it was Vivek Ramaswamy and Florida Governor Ron DeSantis who raised the topic during 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 former candidates have now suspended their campaigns. Ramaswamy did so on January 16, endorsing Trump. DeSantis officially ended his race a couple of days later, on January 21, after losing to Trump by 21 points during the Iowa primary. DeSantis also reiterated his support for Trump, who has repeatedly ridiculed the politician in recent months.
On January 19, US Representative Tom Emmer expressed support for Trump's pledge to fight CBDC, saying he looked forward to working with Trump “against the expanding surveillance state.” Emmer has repeatedly advocated for digital assets and has a history of opposing regulation through an enforcement approach by the U.S. Securities and Exchange Commission and its Chairman Gary Gensler.