US bans CBDCs

The information came via an executive order. The decree issued by President Donald Trump to create a Cryptocurrency Advisory Commission not only gave the order to begin the necessary evaluations to create a bitcoin reserve, but also brought with it the surprise ban on creating central bank digital currencies.

The already famous CBDCs have a queue of rejection not only in the United States, but also in several countries. Most members of the cryptocurrency ecosystem have spoken out against them ⚠️, seeing them as tools for surveillance and control of citizens. And their money!

Despite this rejection, in recent months we have seen how a large number of countries continue to insist on their development. There are already more than 130 jurisdictions, according to estimates by CBDC trackers.

We thus see how projects proliferate, on the one hand, while on the other people express their disinterest.

This has been demonstrated by the pilot tests that have been carried out with the most advanced CBDCs, such as the digital yuan of China, the sand dollar of the Bahamas and the e-Naira of Nigeria.

In reality, what governments are looking for with these currencies is not to lose control of the monetary issue, which they see threatened by bitcoin. Hence, the fact that the United States government prohibits its creation becomes an important milestone that sets a precedent.

With this prohibition, the northern country leaves aside many of the digital currency projects it had been working on. Although the rejection of CBDCs was already an outcry that had been expanding since the government of Joe Biden.

In this sense, a bill that would seal the ban is pending debate in Congress in the Senate.

But, in the framework of the change of government, we are still not clear about its status. It is necessary to consider its approval, if the idea of ​​a CBDC is to be banished from the US.

It would be the way to prevent the current ban - via executive order - from being reversed.