Among the new executive orders signed by US President Donald Trump is one that bans the Fed from developing a digital currency, or CBDC, as well as stopping all work oriented towards that end.

Despite being in favor of cryptocurrencies, Trump has banned the Fed from creating a CBDC while he creates working groups to generate proposals to Congress in this field.

Trump seeks to clarify regulations in the cryptocurrency sector, refuting any central bank digital currency that has no justification.

In this regard, the Fed’s ban decree mentions among the president’s priorities “taking measures to protect Americans from the risks of central bank digital currencies (CBDC), which threaten the stability of the financial system, individual privacy and the sovereignty of the United States, including prohibiting the establishment, issuance, circulation and use of CBDCs within the jurisdiction of the United States.”

M.Pino

Source: elpais

(Reference image source: Alex Shuper for Unsplash+)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on X/Twitter and Instagram

La entrada Trump executive order bans Fed from creating a CBDC apareció primero en Bitfinance.