Donald Trump and Conservatives Rally Against CBDCs

Image Credit: NBC News Jan 18, 2024 By: Bhumi Shrivastava

Trump's Warning

[{"selector":"#anim-4bcf31ad-2245-43f4-97aa-20ae34f91882","keyframes":{"opacity":[0,1]},"delay":400,"duration":1200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-aba43588-90fd-4ef6-a4a6-2626bd706eda","keyframes":{"transform":["translate3d(0px, 503.59458%, 0)","translate3d(0px, 0px, 0)"]},"delay":400,"duration":1200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1cab3f68-e914-4e70-a3c8-0bd398ce7334","keyframes":{"opacity":[0,1]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-99e2d23a-fdb3-4aeb-858c-95a6ad9928b8","keyframes":{"transform":["translate3d(0px, 225.37034%, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e9f0bd8b-d7e7-4a00-91cd-08d33d54d621","keyframes":{"opacity":[0,1]},"delay":300,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ab1f9e15-9f73-438b-920c-e99b0912985d","keyframes":{"transform":["translate3d(0px, 127.10798%, 0)","translate3d(0px, 0px, 0)"]},"delay":300,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2632ac61-b0d1-4d7a-85c7-a686e4dfe8d7","keyframes":{"opacity":[0,1]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d148412b-4d13-4f48-accd-df1f51c3a041","keyframes":{"transform":["translate3d(0px, 620.20068%, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Former President cautions against Central Bank Digital Currencies , fearing potential threats to personal freedom. Image Credit: Sky News

Conservative Front

[{"selector":"#anim-1b0a3950-b7d5-4d9b-8d6a-d737a3cd43b6","keyframes":{"opacity":[0,1]},"delay":300,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-bae4b788-dc6a-4bec-8c2c-bd116854f5bf","keyframes":{"transform":["translate3d(0px, 117.52932%, 0)","translate3d(0px, 0px, 0)"]},"delay":300,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d84182cb-fa9f-4554-b2ca-35944402d80a","keyframes":{"opacity":[0,1]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a20dfce3-94d9-4175-8ab9-8b07a84e8b75","keyframes":{"transform":["translate3d(0px, 238.70368%, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4e94234d-d83f-4ff8-8225-dd896130634e","keyframes":{"opacity":[0,1]},"delay":400,"duration":1200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d3f86d1a-5cb1-46bb-8f4f-f13465ba5924","keyframes":{"transform":["translate3d(0px, 530.06514%, 0)","translate3d(0px, 0px, 0)"]},"delay":400,"duration":1200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-9d725fc6-0280-4c17-8041-e6879eb9235e","keyframes":{"opacity":[0,1]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-093bfb67-35e6-4d69-9e4c-0c762cf1adb2","keyframes":{"transform":["translate3d(0px, 620.20068%, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Ron DeSantis and other conservatives join Trump in rejecting the idea of approving a CBDC. Image Credit: CoinDesk

Absolute Government Control

[{"selector":"#anim-984ac537-4741-48ea-a55e-258876ceb3da","keyframes":{"opacity":[0,1]},"delay":300,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6dddb36b-d4e8-4a1f-b54f-0af0498fbd3c","keyframes":{"transform":["translate3d(0px, 125.65252%, 0)","translate3d(0px, 0px, 0)"]},"delay":300,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-76a4df50-a721-4c22-a7c3-a1aebdc8f9fb","keyframes":{"opacity":[0,1]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6a53ad1e-e49a-433f-a926-35ce168f18c9","keyframes":{"transform":["translate3d(0px, 238.70368%, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d16128a3-9471-496e-ba2c-5b28c6fae8c9","keyframes":{"opacity":[0,1]},"delay":400,"duration":1200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e5367cda-d28d-4368-a261-628839b65cbe","keyframes":{"transform":["translate3d(0px, 530.06514%, 0)","translate3d(0px, 0px, 0)"]},"delay":400,"duration":1200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6b657b3b-d6dd-4f5b-8529-03dab7aecfd6","keyframes":{"opacity":[0,1]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f7856bd6-5012-4998-a0cd-c4383746810f","keyframes":{"transform":["translate3d(0px, 620.20068%, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Trump emphasizes the risk of a CBDC granting the government absolute control over individuals' finances. Image Credit: Vanity Fair

Surveillance Fears

[{"selector":"#anim-c6515091-1651-4505-9b95-a8905479b07f","keyframes":{"opacity":[0,1]},"delay":300,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a9a5984b-724d-4066-ac5e-a15dfd8ea5d9","keyframes":{"transform":["translate3d(0px, 119.24983%, 0)","translate3d(0px, 0px, 0)"]},"delay":300,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-dfe57c94-2e85-4222-a758-10af669e3750","keyframes":{"opacity":[0,1]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b930dbb0-2eb9-47f6-93de-aed6ad1d3ed2","keyframes":{"transform":["translate3d(0px, 230.37037%, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-cd7cee0f-2583-4b21-8431-44b347761243","keyframes":{"opacity":[0,1]},"delay":400,"duration":1200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2d16e836-33cd-4a3e-91c1-cbb9394ce5d2","keyframes":{"transform":["translate3d(0px, 515.35929%, 0)","translate3d(0px, 0px, 0)"]},"delay":400,"duration":1200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-cba817bb-8faa-48d1-b7da-0782e205125a","keyframes":{"opacity":[0,1]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c16f2e66-d03a-4e33-ae78-d26cd19cbe79","keyframes":{"transform":["translate3d(0px, 620.20068%, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Critics argue that CBDCs could enable extensive government surveillance, potentially leading to bans on specific purchases. Image Credit: Cato Institute

Digital Social Scoring

[{"selector":"#anim-cec82dad-a46d-4b8a-8811-49904811d5c7","keyframes":{"opacity":[0,1]},"delay":300,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-411a909c-4fde-489c-abef-1af7b1fca1e2","keyframes":{"transform":["rotate(-360deg) translate3d(0px, 124.65947%, 0) rotate(360deg)","rotate(-360deg) translate3d(0px, 0px, 0) rotate(360deg)"]},"delay":300,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-49b23d6e-12e6-47a2-9bf0-3466eb13bc50","keyframes":{"opacity":[0,1]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6412ab40-56ec-497a-8b3e-002f7a7fda95","keyframes":{"transform":["translate3d(0px, 228.70362%, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-94849992-ac65-43b8-9f55-fc55465691ca","keyframes":{"opacity":[0,1]},"delay":400,"duration":1200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-bb26fc5e-f1d3-48a4-9f38-392a99e2074b","keyframes":{"transform":["translate3d(0px, 512.41816%, 0)","translate3d(0px, 0px, 0)"]},"delay":400,"duration":1200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-fce3bfb9-3a85-47aa-b217-e6064bcb3da3","keyframes":{"opacity":[0,1]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-39d46049-12b4-4b18-a1d1-a6e3d01c3ba9","keyframes":{"transform":["translate3d(0px, 620.20068%, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Concerns raised about the possibility of a CBDC paving the way for a digital social scoring system similar to China's. Image Credit: Data Tech International

Fed's Study

[{"selector":"#anim-30e4ef47-f53c-483f-9be3-f1abc1768334","keyframes":{"opacity":[0,1]},"delay":300,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-56f9ecfe-53df-4158-a4ea-ec8981b47d70","keyframes":{"transform":["translate3d(0px, 117.39416%, 0)","translate3d(0px, 0px, 0)"]},"delay":300,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-10a41bed-e89a-4cf4-a1d7-09d818822a8d","keyframes":{"opacity":[0,1]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6822efe4-eab4-4313-b53a-82ad0ff6008c","keyframes":{"transform":["translate3d(0px, 232.03701%, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2ff7f50d-c4c1-42ff-990d-943f49fc81a4","keyframes":{"opacity":[0,1]},"delay":400,"duration":1200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e8b6948f-ae35-42fa-ad64-e05bbe5fb9c4","keyframes":{"transform":["translate3d(0px, 515.35929%, 0)","translate3d(0px, 0px, 0)"]},"delay":400,"duration":1200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c5d822e9-d9e9-49d6-a9ff-43f55a2d1b5c","keyframes":{"opacity":[0,1]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-377be342-539b-4537-861c-60ebfe9739ef","keyframes":{"transform":["translate3d(0px, 620.20068%, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] The Federal Reserve explores the benefits and drawbacks of CBDCs but has not committed to launching one. Image Credit: CoinGape

Proponents' View

[{"selector":"#anim-9bf06e99-cc90-4873-8239-7b6586e3ef1b","keyframes":{"opacity":[0,1]},"delay":300,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-97344ec4-ef69-42cd-b3b4-3df959a1ba1c","keyframes":{"transform":["translate3d(0px, 123.17252%, 0)","translate3d(0px, 0px, 0)"]},"delay":300,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-51fae217-ece0-4ba9-b7f8-3f26a6e4c162","keyframes":{"opacity":[0,1]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-64936093-6744-4691-8937-1b49c3cf98d3","keyframes":{"transform":["translate3d(0px, 228.70362%, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-07a591f4-b3f2-42a6-ab42-997b2f98e823","keyframes":{"opacity":[0,1]},"delay":400,"duration":1200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-72a7222f-2362-4358-9afb-28f4239501e2","keyframes":{"transform":["translate3d(0px, 509.47703%, 0)","translate3d(0px, 0px, 0)"]},"delay":400,"duration":1200,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-80d3017a-a05c-497c-b0e3-1ceff7a3212b","keyframes":{"opacity":[0,1]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-89ead86a-31b5-4150-8635-e13830f05232","keyframes":{"transform":["translate3d(0px, 620.20068%, 0)","translate3d(0px, 0px, 0)"]},"delay":500,"duration":1300,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Advocates argue for CBDCs, citing environmental benefits, enhanced security, and reduced cash transportation costs. Image Credit: LiveLaw See More