Crypto Just Got a MASSIVE Win. But the Fight Isn't Over.

Many view Donald Trump’s election victory as a major win for the crypto landscape — especially in the US.

Especially with Trump’s firm stance against central bank digital currencies (CBDCs) and his promise never to introduce one in the US.

But, even as Trump pledges to keep the US free from CBDCs, the global push toward centralised digital currencies expands far beyond the US. And it shows no signs of slowing down.

This victory may have delayed the potential threat of CBDCs domestically, but challenges remain on both national and global fronts.

This article is part of the Chain Reactions series: expert opinions on everything blockchain and crypto.

Why Does the Global Threat of CBDCs Matter?

CBDCs are rapidly gaining traction worldwide, with central banks and governments pursuing them as tools for modernising financial systems and increasing transaction transparency. These digital currencies differ significantly from the digital payment systems we’ve had for years.

Proponent of CBDCs see the technology as a way to fight organized crime and money laundering, with full traceability of funds.

However, CBDCs, unlike traditional digital payments, threaten to give governments unprecedented control over personal transactions by bypassing private banking systems.

In a society where CBDCs give governments this level of oversight of financial transactions, what would be the consequences for ordinary people?

Well, with a CBDC, a government could theoretically track spending, restrict purchases, or even deny transactions based on policy objectives or political pressure.

The Fight Against CBDCs

Trump’s commitment to keeping CBDCs out of the US resonates with those who fear that this level of financial control could easily be used to restrict personal autonomy, especially in times of crisis or political tension.

However, the global shift towards CBDCs could ultimately put everyday citizens under constant financial scrutiny, with governments able to monitor and even limit personal spending.

That's a reality we'll have to keep fighting against, even with Trump in office.

Still, as financial and political challenges continue to evolve, Trump’s stance on CBDCs offers a vision that contrasts sharply with centralized control and financial surveillance.

While his policies may not please everyone, they represent a step towards preserving individual financial freedoms and reducing government overreach. Which is almost certainly a victory for anyone who believes in the core values of the crypto movement.