Look at the Tether stablecoin, Tether is solely responsible for minting new tokens and has full control over the tokens, being able to blacklist or destroy wallets/tokens (since it controls the "smart contract" involved). And they have done so because of sanctions and law enforcement request in the past, with afaik well over 1 billion USDT frozen.
I see no reason why the trump team wouldn't just go for the same mechanism for their stablecoin.