Trump Vows to Block Creation of U.S. Digital Currency if Reelected

The Former President Aligns with Other Republicans in Opposition to Central Bank Digital Currency

Former President Donald Trump has vowed to block the creation of a U.S. Central Bank Digital Currency (CBDC) if he is reelected, calling it a 'dangerous threat to freedom'.
Trump's stance aligns with other Republicans, including Florida Governor Ron DeSantis, who has also opposed the establishment of a CBDC and has banned them in his state.
The Federal Reserve has been exploring the possibility of issuing a CBDC, but has made it clear that it has not made a decision and would only proceed with issuance with an authorizing law.
CBDCs are digital versions of cash that are issued and regulated by central banks. Proponents argue that a digital dollar could be exchanged securely and be less subject to volatility.
Despite the political debate, there is currently no proposal from the Federal Reserve to introduce a CBDC.