US President signs executive order banning CBDCs

[Eugene]

Source: GlobalData

US President signs executive order banning CBDCs

GlobalData
Mon, January 27, 2025 at 12:18 PM EST 2 min read

US President Donald J Trump has signed an executive order, restricting US agencies from issuing or endorsing central bank digital currencies (CBDCs) both within the nation and on the international stage.

CBDCs are digital currencies issued by central banks.

In issuing the ban, the executive order expressed concerns that CBDCs “threaten the stability of the financial system”.

Besides, the order aims to establish the presidential working group on digital asset markets .

The working group will develop a federal regulatory framework for digital assets, including stablecoins, and assess the creation of a national digital assets stockpile.

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Read more: https://finance.yahoo.com/news/us-president-signs-executive-order-171831166.html

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Other reporting:
• Donald Trump fulfills promise to crypto community, bans CBDC: What it means (The Indian Express)
• Trump's digital dollar ban gives China and Europe's CBDCs free rein (Reuters)

[no_hypocrisy]

1. I guess that's one way to stifle the competition.

Now explain to me how Trump's plan to exchange gold reserves for HIS crypto currency won't “threaten the stability of the financial system”.

[Irish_Dem]

2. China wants its currency to be the global currency.

China has been hoarding huge amounts of gold bullion to set the stage
for taking over the US dollar and being the gold standard in the world.

[Lovie777]

3. What about the value of the dollar?.............

and it's time to impeach the whole administration and oust the republican party.

From history I see why Democrats stayed in power in the House of Represenatives for 40 years.

[sinkingfeeling]

4. But a Bitcoin US reserve doesn't?