There Won’t be a CBDC if I am Elected President – Donald Trump
Former U.S. President Donald Trump, in a recent address in New Hampshire, staunchly opposed the introduction of a Central Bank Digital Currency (CBDC) if re-elected.
He expressed concerns about potential government control over individuals’ finances, pledging to prevent the creation of a CBDC during his presidency.
President Trump promises to nix plans for a central bank digital currency during speech in Portsmouth, New Hampshire
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The U.S. remains divided along political lines on CBDCs, with Democrats like Sen. Elizabeth Warren supporting them and Republicans like Sen. Ted Cruz opposing the idea.
The Federal Reserve, represented by Governor Michelle Bowman, remains cautious, citing risks and privacy concerns.
Despite this, the global landscape is witnessing active exploration of CBDCs, with over 100 countries, including the U.K., China, Nigeria, and Russia, delving into their development.
Morgan Stanley adds a note of caution, emphasizing potential impacts on the global economic landscape, especially the enduring dominance of the U.S. dollar.
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The financial institution suggests that CBDCs could streamline cross-border transactions, potentially reducing reliance on traditional intermediaries like SWIFT.
This evolution could reshape dependence on dominant currencies, with implications for the established role of the U.S. dollar in the international financial system.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
