On January 23, US President Donald Trump signed an executive order that officially bans the creation, issuance, and circulation of central bank digital currency ( CBDC ). According to industry experts, such a decision could negatively affect digital currency projects in other countries.
According to the founder of the blockchain company Red Date Technology, Yifan He, Trump's ban on the development CBDC in the US will impact "any retail digital currency project in the next four years."
I don't think any country will be able to implement CBDC in the next 10 years,” Yifan He said.
A U.S. digital currency ban could slow down retail adoption, according to analyst Lampis Dionysopoulos of the Blockchain Observatory and Forum. CBDC . However, wholesale CBDC , will most likely continue to develop.
Tomer Warschauer Nooney of Kima Network also says that Trump's ban will not be able to stop the global development of digital currency. According to him, jurisdictions such as China, Israel, Australia and the European Union are still striving to implement CBDC to strengthen financial sovereignty.
In fact, the EU's commitment to a digital euro can only increase as the EU seeks strategic autonomy in payments and reduced reliance on non-European infrastructure, he said.
Retail CBDC intended for use by individuals, wholesale ones are needed exclusively for transactions with securities and for interbank payments.
