Trump's refusal to sign is not a change in his stance; it's because he is playing a much bigger game.

#特朗普拒签CBDC法案

Everyone knows Trump has always been against CBDCs. But this time, the reason for his veto is not a shift in position, but rather that other provisions in the bill could affect the overall progress of crypto market structure legislation. In other words, he's waiting for a better package deal—preferring not to sign now rather than be tied down by certain clauses that could hinder the broader layout of future crypto legislation.

Meanwhile, Congress is discussing another matter: allowing crypto and fintech companies to directly access the Federal Reserve's "streamlined master account" payment system. If implemented, crypto companies would no longer need to settle through traditional banks and could directly connect to the Fed's clearing network. This is the real game-changer for the industry's foundation.

Whether CBDCs are banned or not, the actual impact on the crypto industry is limited. No one in the US uses central bank digital currencies anyway, and Europe's pilot programs haven't made waves either. But once the streamlined master account is opened, the status of crypto's payment infrastructure in the US will be completely transformed. This is a truly strategic move.