The CBDC Ban: Trump Draws a Red Line on Government-Controlled Digital Money In a bold and unusual move for modern presidents, Donald Trump signed an executive order at the beginning of his second term banning the development and promotion of a U.S. Central Bank Digital Currency (CBDC). His administration cited the preservation of financial privacy, protection against government surveillance, and concern over the weaponization of programmable money as reasons for this prohibition. This action was widely applauded by libertarians, privacy advocates, and crypto enthusiasts alike. Finally—someone was willing to stand up to the looming specter of a cashless control grid. But like all things in modern politics, what’s on paper doesn’t always reflect what’s happening behind the scenes. FedNow Isn’t…
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