The US Secretary of the Treasury ruled out the launch of a digital dollar - ForkLog: cryptocurrencies, AI, singularity, the future

# US Treasury Secretary rules out launch of digital dollar

The current US administration will not allow the introduction of a central bank digital currency (CBDC). This was stated by Treasury Secretary Scott Bessent.

The Treasury head has consistently opposed CBDC and aligns with the Trump administration's stance, which after the January executive order, rejected the idea of a Federal Reserve digital currency and focused on private dollar stablecoins.

"The current administration has clearly stated that there will be no central bank digital currency. It would be the first step toward surveillance, so we have excluded this option from discussion," — said Bessent.

As early as January 2025, during his confirmation, Bessent publicly rejected the initiative to create a CBDC. In February 2026, he stated that the global market would choose the dollar and private sector solutions over government digital currencies.

Meanwhile, the Treasury is promoting its own crypto agenda. In April, Bessent called on Congress to accelerate the adoption of the CLARITY Act, warning that regulatory uncertainty is already pushing developers and capital to Singapore and Abu Dhabi.

In the same month, the agency introduced a draft regulation for implementing the GENIUS Act — a framework for stablecoin regulation.

In July, Bessent called stablecoins a “revolution” in digital finance. He estimates they could strengthen the dollar’s position worldwide and support demand for US Treasury bonds.

Recall that in July 2025, Trump signed the GENIUS Act, which established rules for stablecoins and became the first significant regulatory act for the crypto industry in the country.