Trump's Firm Stance Against CBDC

United States President Donald Trump made it clear on Friday that he will never allow the creation of a Central Bank Digital Currency (CBDC) in the country. His declaration underscores a significant policy direction for the US financial system.

Executive Order and Future Legislation

Trump highlighted that he has already signed an executive order prohibiting the development of a CBDC. Furthermore, he announced plans to soon enact legislation that would permanently ban such digital currencies, reinforcing his commitment to this stance.

Protecting the Dollar's Global Status

Amid preparations to sign the GENIUS Act on stablecoins, Trump also emphasized his dedication to maintaining the US dollar as the world's reserve currency. He criticized any potential moves by BRICS nations to challenge the dollar's dominance, vowing to prevent any such shift under his watch.