U.S. Treasury Secretary Bessent Reiterates: The Trump Administration Will Not Launch a CBDC During Its Term

On May 29, according to crypto journalist Eleanor Terrett, U.S. Treasury Secretary Scott Bessent once again clearly reiterated that the Trump administration will not roll out a central bank digital currency (CBDC) during its term.

Bessent said this would be the first step for the U.S. toward tracking digital assets, and the most important thing we can do is to get digital assets into the United States.

On the legislative front, the Housing Act (ROAD to Housing Act) that the House of Representatives has already passed includes a temporary ban on the Federal Reserve issuing a CBDC, which will expire in December 2030.

Although the bill has not yet been introduced in the Senate and considered for passage, Senate Majority Leader John Thune has said that pushing for a permanent ban could face resistance from Democrats.

In addition, some House Republicans also view the ban’s expiration date as the “de facto effective date” for a CBDC, believing this could reopen the door for the Federal Reserve to explore CBDCs.

Regarding monetary policy, Federal Reserve Chair Kevin Warsh has also clearly stated that as long as it is within his authority, he will not allow the Federal Reserve to move in the direction of CBDCs.

However, the proposed temporary ban on CBDCs will expire in 2030, the same year Warsh’s first term as chair ends, and this overlap could bring new variables to the direction of future policy.

#Central Bank Digital Currency