Donald Trump to Ban CBDC? New Executive Orders Could Reshape Crypto

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Shortly after assuming the chair of the President of the United States of America, Republican leader Donald Trump, known for his pro-crypto stance, has cancelled several controversial actions taken by his predecessor, Joe Biden.

Importantly, he has revoked the executive order aimed at creating a framework for AI regulation in the US, indirectly proclaiming his stance on the Web3, AI, Blockchain and Crypto sector.

Meanwhile, experts like Eleanor Terrett, opine that Trump would take more aggressive actions necessary to support the futuristic sector. Let’s explore. Join!

Trump’s Executive Orders: What’s Expected?

Most exports, including Terrett, are confident that Trump would release an executive order announcing the creation of a cryptocurrency advisory council.

Sources aware of the development suggest that the EO would create an ideal forum to bring together policymakers and business leaders.

Establishing such a forum is necessary to develop feasible policies for the growth of the cryptocurrency sector, crypto enthusiasts think.

CBDC Ban Speculation

Terrett reveals that Trump may also issue an executive order banning the creation of a Central Bank Digital Currency.

It was in March, 2022, that Joe Biden, the then-US president, signed the Executive Order on Ensuring Responsible Development of Digital Assets, which discussed the possibility for the development of a United States central bank digital currency.

Uncertainty Around the Timing

Notably, the new administration has not yet announced any aggressive policies favouring the crypto sector, as against the general expectation that Trump would announce some pro-crypto policies within hours of his induction.

Though highly optimistic about the probability for the release of some sensational EO supporting the cryptocurrency sector, Terrett admits that it is difficult to predict the exact timing of each pro-crypto EO release.

In conclusion, Trump’s anticipated executive orders could redefine the US crypto landscape, fostering innovation while curbing centralised digital currencies.