Donald Trump labels central bank digital currencies as ‘extremely risky’

Aneeca Younas

donald trump

In a recent interview, former President Donald Trump warned that central bank digital currencies (CBDCs) pose a significant threat. He expressed concern as the Federal Reserve and the Biden administration evaluate the advantages and challenges of introducing a CBDC, which would digitally represent a country’s official currency and require Congress’s clear approval for its adoption.

When questioned about his intentions to prevent the Federal Reserve from launching a digital version of the dollar, Trump suggested that such a move could lead to people’s funds vanishing from their accounts, as he discussed with Fox News last Friday.

This apprehension towards the safety of CBDCs emerges while Trump, who is considered a likely candidate for the Republican presidential nomination, has personal investments in cryptocurrencies and markets a collection of non-fungible token (NFT) trading cards.