Cato Daily Podcast
Presidential Candidates Speak (or Not) on Central Bank Digital Currency
Feb 27, 2024
Exploring the differing views of Trump and Biden on CBDCs, and how states are preparing for the new currency. Understanding the resistance from political figures and the complexities of implementing CBDCs. Analyzing the silence of President Biden's administration on the subject and the controversies surrounding programmable currencies.
12:02
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Quick takeaways
- Republican presidential candidates express strong objections to CBDCs citing privacy and market stability concerns.
- States are updating commercial codes to address federal debates on CBDCs, with varied responses ranging from disapproval to caution.
Deep dives
Republican Candidates' Opposition to CBDCs
Republican candidates for the White House, including Vivek Ramaswamy, Ron DeSantis, RFK Jr., and even Donald Trump, have vocalized strong objections to central bank digital currencies (CBDCs) due to concerns about privacy, financial freedom, and market stability. This opposition has also extended to members of Congress, reflecting a growing resistance to the implementation of CBDCs in the United States.
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