US President signs executive order banning CBDCs [View all]

Source: GlobalData

US President signs executive order banning CBDCs

GlobalData
Mon, January 27, 2025 at 12:18 PM EST 2 min read

US President Donald J Trump has signed an executive order, restricting US agencies from issuing or endorsing central bank digital currencies (CBDCs) both within the nation and on the international stage.

CBDCs are digital currencies issued by central banks.

In issuing the ban, the executive order expressed concerns that CBDCs “threaten the stability of the financial system”.

Besides, the order aims to establish the presidential working group on digital asset markets .

The working group will develop a federal regulatory framework for digital assets, including stablecoins, and assess the creation of a national digital assets stockpile.

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Read more: https://finance.yahoo.com/news/us-president-signs-executive-order-171831166.html

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Other reporting:
• Donald Trump fulfills promise to crypto community, bans CBDC: What it means (The Indian Express)
• Trump's digital dollar ban gives China and Europe's CBDCs free rein (Reuters)