The President's New Executive Order Mandates a National 'Digital Dollar' Trial, Sparking Mass Confusion Over Crypto Ban Rumors
A viral rumor is spreading that a newly signed executive order will immediately ban all cryptocurrencies and force Americans to use a government-backed "digital dollar." This is false. While the executive order does launch a pilot program for a Central Bank Digital Currency (CBDC), it explicitly protects the right to own private crypto, like Bitcoin. The confusion stems from a misreading of a section that requires strict identity verification for the pilot, which people have falsely claimed is a nationwide surveillance system.