During a campaign speech in Portsmouth, New Hampshire, on January 17, former U.S. President and presidential candidate Donald Trump emphatically declared his commitment to preventing the Federal Reserve from introducing a central bank digital currency (CBDC) in the United States. Asserting his vow, he stated, "Tonight, I'm making another promise to protect Americans from government tyranny."
The audience responded with enthusiastic applause, prompting Trump to express surprise, saying, "I didn't know you knew so much. New Hampshire, very smart people." He then elaborated on his pledge to oppose the creation of a CBDC by the Federal Reserve.
“This would be a dangerous threat to freedom and I will stop it from coming to America,” he said.
Republican Party nominee hopeful Vivek Ramaswamy, who advocated for a crypto-centric policy framework, withdrew from the race on January 15 after securing around 8% of the vote in the Iowa Caucus. Ramaswamy has formally thrown his support behind Donald Trump.
Former Securities and Exchange Commission enforcer John Reed Stark suggested on January 17 that the crypto movement could play a pivotal role in the upcoming 2024 presidential election. Stark proposed that every presidential candidate should promptly appoint an internal Crypto Czar to act as their primary representative and spokesperson for their stance on cryptocurrencies.
If the crypto movement gains substantial prominence in the 2024 presidential election, it could have far-reaching implications for candidates and their campaigns.
A well-defined regulatory framework for the cryptocurrency industry could foster growth, investment, and job creation. Candidates who emphasize the importance of providing regulatory clarity to the crypto industry while ensuring consumer protection and security measures might gain support from both industry stakeholders and the general public.
Candidates who oppose the introduction of a central bank digital currency (CBDC) may position themselves as champions against government overreach. This stance could attract voters who are skeptical of centralized control and view CBDCs as potential threats to financial privacy and personal liberties.
Also Read: Howard Lutnick's Views on Bitcoin Halving and Tether's Reserves
