On January 23, 2025, President Donald Trump signed an executive order banning the issuance, circulation, and use of Central Bank Digital Currencies (CBDCs) in the United States. The order also mandates the immediate termination of any ongoing plans related to CBDC development.
Trump criticized CBDCs as a “threat to freedom,” citing concerns over privacy, security, and increased government surveillance. In contrast, he praised cryptocurrencies for their potential to drive economic growth and technological innovation, expressing support for the development of blockchain technology and digital assets.
The executive order establishes a working group tasked with proposing a new regulatory framework for digital assets within 180 days. While this move may distance the U.S. from the global CBDC race dominated by China and Europe, it is expected to accelerate investment in the domestic cryptocurrency industry.
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