Scott Olson
Former President Donald Trump said that central bank digital currencies (CBDCs) can be a “very dangerous thing,” according to a recent interview.
The Fed and the Biden administration have been exploring the potential risks and benefits of creating a CBDC — a central bank-issued digital currency representing a nation’s fiat currency. Adopting a CBDC would require explicit Congressional authorization.
Asked about his plans to block the Federal Reserve from issuing a so-called digital dollar, Trump claimed it could result in money suddenly disappearing from people’s bank accounts, he told Fox News on Friday.
Trump’s skepticism about the security of CBDCs comes as the likely Republican presidential nominee personally owns investments in cryptocurrency, and also sells a line of non-fungible token (NFT) trading cards.
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