Why Crypto Won’t Free You
In January 2025, President Donald Trump signed Executive Order 14178, “Strengthening American Leadership in Digital Financial Technology.” The order banned federal agencies from taking any action to develop, issue, or promote a Central Bank Digital Currency (CBDC), either at home or abroad. It also dismantled previous federal initiatives exploring a digital dollar, including a 2022 executive order and a Treasury framework issued under the Biden administration.
Framed as a defense of personal liberty against government overreach, the executive order argued that CBDCs pose risks to financial privacy, institutional independence, and democratic sovereignty. By blocking the rise of a government-issued digital…
