Central Bank Digital Currencies (CBDCs) are a topic of global debate. While the US has banned their creation, other countries are moving forward with their development.
US Ban on CBDC Implementation
On January 16, President Donald Trump signed an executive order banning the creation of CBDCs in the US due to concerns over privacy and economic feasibility. New Treasury Secretary Scott Bessent voiced his doubts about the necessity of implementing such currencies.
Global CBDC Developments
Despite the US stance, other countries continue to explore CBDC options. China is highly active in this field, with the e-CNY program widely used by millions. According to the Atlantic Council, 66 countries are either exploring or have launched CBDCs.
China's Achievements and EU Initiatives
China leads in CBDC implementation with its e-CNY program, utilized extensively in both domestic and international transactions. The European Central Bank is also taking steps toward creating its platform for institutional settlements to strengthen the euro in the digital scene.
Global trends show significant interest in CBDCs, despite the US's reluctance. Many countries view these currencies as a means to enhance economic infrastructure and international cooperation.
