NEW YORK–Former president and Republican presidential candidate Donald Trump said if he is elected he will "never allow" the United States to create a central bank digital currency (CBDC).
Doing so, Trump said during a speech, would be a "dangerous threat to freedom," as it would allow the government to have "absolute control" over money with the ability to seize funds and monitor transactions without individuals' knowledge.
"To protect Americans from government tyranny, as your president I will never allow the creation of a central bank digital currency," Trump said.
The Federal Reserve has been extensively researching the feasibility of a CBDC, but has not taken an action and has made clear it would not do so without support from the executive and legislative branches.
While Trump has objected to a CBDC, he has been involved in the sale of crypto in the form of Ethereum, and he is also earning royalties from several non-fungible tokens.
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