President Trump made a brand new pledge on Wednesday night while speaking to supporters in Portsmouth, New Hampshire, taking a strong stance against allowing digital currency to take hold in the United States.
He vowed, “…Tonight, I’m making another promise to protect Americans from government tyranny. I will never allow the creation of a Central Bank Digital Currency.”
Trump continued, “Such a currency would give a federal government – our federal government – the absolute control over your money…this would be a dangerous threat to freedom and I will stop it from coming to America.”
Central Bank Digital Currency has drawn consistent criticism from those who value privacy and personal sovereignty in the United States. The America First Policy Institute has made the following argument on the issue:
“The digitization of money through a Central Bank Digital Currency (CBDC) creates substantial threats to financial privacy, increases government power, and could be weaponized against the American people.”
Trump also took a stand against banks that may punish customers for their political stances or beliefs.
The president explained, “We are also going to put in place strong protections to stop banks and regulators from trying to DE-BANK you for your…political beliefs.”