Trump Pledges to Prevent US Central Bank Digital Currency

The president had previously raised concerns about central bank digital currencies negatively affecting freedoms of Americans.

President Donald Trump delivers remarks during a signing ceremony for the “GENIUS Act” in the East Room of the White House in Washington on July 18, 2025. Anna Moneymaker/Getty Images

A central bank digital currency (CBDC) will not be allowed in the United States, President Donald Trump said at a White House event on July 18, promising to take legislative action to prevent such a situation.

“I also remain fully committed to my pledge, never to allow the creation of a central bank digital currency in America,” Trump said. “My first week in office, I signed an executive order to ban the creation of a CBDC in the United States. And very soon, I look forward to signing legislation that will codify and make it a permanent law.”