Cryptocurrency experts are dismissing central bank digital currencies (CBDCs) following remarks made by former US President Donald Trump about the potential issuance of stablecoins.

In a recent interview, Trump expressed his skepticism about the idea of CBDCs, suggesting that they are not likely to be implemented. He pointed to the success of stablecoins like Tether as evidence that there may not be a need for governments to create their own digital currencies.

Trump’s comments have sparked a debate within the cryptocurrency community, with some agreeing that CBDCs are unnecessary given the availability of stablecoins, which are backed by real-world assets. Others argue that CBDCs have the potential to revolutionize the financial system by providing a government-backed digital currency that could enhance financial inclusion and transparency.

Despite Trump’s dismissal of CBDCs, many central banks around the world are actively researching and developing their own digital currencies. For example, China has been testing its digital yuan for the past few years, with plans to roll it out on a larger scale in the near future.

Whether CBDCs will ultimately replace stablecoins remains to be seen, but one thing is clear: the debate over the future of digital currencies is far from over.

Stay tuned to Coin Telegraph for the latest updates on CBDCs, stablecoins, and the future of digital finance.

The post CBDC in the US ‘is dead’ during Trump administration, but stablecoins could be on the brink of exploding appeared first on Crypto Breaking News.

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Filed under: News - @ January 20, 2025 6:26 pm