Trump issues order banning US Federal Reserve from establishing ‘digital dollar’

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WASHINGTON, Jan 24 — US President Donald Trump issued an executive order yesterday effectively banning the establishment...

The Fed has conducted research on CBDCs, but has made clear on multiple occasions that it currently has no plans to put one into circulation.“People don’t need to worry about a central bank digital currency,” Fed chair Jerome Powell told the US Senate Banking Committee last year.“Nothing like that is remotely close to happening anytime soon.

This included the prohibition of “the establishment, issuance, circulation, and use of a CBDC within the jurisdiction of the United States,” he added.

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Article Details

Category: EconomyBusiness

Markets: MalaysiaUnited States

Topics: Central bank digital currencies US Federal Reserve Donald Trump

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-24 @ 09:21:02 (8 hours ago)

News Timezone: GMT +8:00

News Source URL: malaymail.com

Language: English

Article Length: 263 words

Reading Time: 2 minutes read

Sentences: 11 lines

Sentence Length: 24 words per sentence (average)

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Copyright Owner: © Malay Mail

News ID: 25388206

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