President Donald Trump has signed an executive order aimed at stopping the development and implementation of central bank digital currencies (CBDCs) by federal agencies. The order prohibits government institutions from pursuing or promoting any plans related to a federally controlled digital currency.
Trump’s executive action reverses policies from the Biden administration that supported research and potential rollout of CBDCs. He had previously criticized such efforts, warning they could lead to government overreach and a loss of financial privacy for American citizens.
🚨President Trump has signed an executive order banning Central Bank Digital Currency (CBDC)
This was going to be abused by big banks as a social credit score where they could freeze your money for wrong think
Huge day for freedom pic.twitter.com/QSyLZec5u7
— DC_Draino (@DC_Draino) January 23, 2025
Federal agencies involved in digital currency projects must now terminate all related initiatives unless explicitly authorized by law. Trump’s directive emphasizes that the U.S. dollar’s dominance should not be undermined by government-issued digital assets, which critics argue could be used for surveillance and financial restrictions.
BREAKING: President Trump signs an Executive Order to make America the world capital of crypto, ban central bank digital currencies (CBDCs), and evaluate the creation of a "national digital asset stockpile."
Let's go, @DavidSacks! 🚀🌕pic.twitter.com/e8hvwHZTEW
— KanekoaTheGreat (@KanekoaTheGreat) January 23, 2025
Along with blocking CBDCs, the order introduces a new working group tasked with examining the regulation of digital assets like Bitcoin and stablecoins. The group will develop recommendations for market oversight, risk management, and consumer safeguards.
JUST IN: 🇺🇸 President Trump signs executive order to ban central bank digital currencies. pic.twitter.com/biFGOdfDzo
— Bitcoin Magazine (@BitcoinMagazine) January 23, 2025
During his campaign, Trump pledged to oppose any attempt to introduce CBDCs in the U.S., stating such a currency would be a direct threat to financial freedom. This order follows his commitment to ensuring that Americans maintain control over their own money without government interference.
NEW: ALL Central Bank Digital Currencies (CBDC) have been BANNED in America
''I see no reason for the U.S. to have a central bank digital currency”
– Treasury Secretary pick Scott Bessent says during a Senate hearing
Donald Trump picked the right man pic.twitter.com/QZ6ZBrhfmZ
— Wall Street Apes (@WallStreetApes) January 23, 2025
In a related development, the U.S. government has accumulated a large reserve of Bitcoin from law enforcement seizures. The potential for utilizing these assets as part of a national digital reserve strategy is expected to be reviewed under the provisions outlined in Trump’s executive order.
